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 Mar. 16, 2023 Source: J.L. Farmakis The broad impact of high prices of fertilizer and crop input shortages experienced in the last two years by many farmers is documented by the 2023 Farmer Speaks survey sponsored by J.L. Farmakis, Inc. While farmers reported record high satisfaction with the results after the 2022 harvest, they also indicated their intent to stockpile critical crop inputs such as fertilizer, seeds, and chemicals like never before. Fertilizer is the number one ranked crop input they plan to purchase early. In anticipation of shortages this planting season, 59 percent of farmers are stocking up. Fertilizer type and rates are predicted to be relatively unchanged, yet 30 percent of farmers will make some type of changes in fertilizer products or practices in anticipation of 2023.
Biological products appear to have directly benefited from the high prices and spot shortages of fertilizer in 2022. The largest farmers (2,000+ acres) increased use of biologicals by 20 percent. Farmers recognize cover crops as a way to improve soil health and capture nutrients that would otherwise be lost. The largest farmers indicate the greatest intent to increase their use of cover crops in 2023, but on average farmers expect to increase cover crop use 26 percent.
Micronutrient products also appear to be enjoying a lift, as farmers seek every way possible to maximize yields. An increase of eight percent is expected. The use of precision agriculture in the field is to increase significantly at 38 percent overall. The high cost of inputs, particularly fertilizer, is a key factor. In general, almost a quarter of the farmers indicated they would experiment more this coming planting season to increase yields, increase revenue, and reduce costs. Trends in fertilizer price and availability are an important factor in a farmer's plans for 2023. It is just one of many categories tracked by the 2023 Farmer Speaks survey sponsored by J.L. Farmakis, Inc. For more information, contact your J.L. Farmakis, Inc. representative. Tweet |
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