Potatoes U.S.-U.K. Pt 1
From the Ag Information Network, I’m Bob Larson. With economic challenges being what they are this year, agricultural groups are hoping for more and better trade deals with other countries to keep our markets moving.
Cedric Porter, Editor at World Potato Markets, says they’re experiencing similar inflationary challenges for agriculture in his corner of the world …
PORTER … “In the U.K. where I’m from, that is in recession and there’s an expectation that Europe will be in recession for much of 2023.”
But Porter says he’s not expecting to see the cost of inputs recover quickly …
PORTER … “There’ll be a change, even when we come out of recession, things will be changed, so the higher fertilizer prices, other costs of things, they’re not going to back to where they were two or three years ago. You know, you always sort of see that when prices go up. They go up very rapidly and they come down much more slowly and never come back down to the level that they were before.”
Porter says rather than just hoping for the best, everyone will be watching for whatever’s next …
PORTER … “I think we’re very, sort of, cautious to sort of saying that now because, you know, a year ago the hour of COVID is on the wane, but then of course we had the war in Ukraine, and you get weather on top of that as well. So yeah, expect the unexpected, I suppose that’s the message.”
Tune in tomorrow for more on the ag economy and U.S.-U.K. trade relations.
