New Year Prospects
As the chimes of Big Ben usher in a New Year, as you savour the glass of fizz in front of a log fire to keep out the winter chill, it is traditional to look back at the months past and forward to the year to come.
2022 was an unprecedented year for many reasons. The impact of the Covid pandemic declined at least in terms of personal freedom and the threat of serious illness but left a legacy of rapidly rising inflation. This was exacerbated massively by the Russian invasion of Ukraine in February. The immediate effect was a huge increase in the price of oil and gas but, perhaps the most dramatic from a farmer’s point of view, was a quadrupling of the price of ammonium nitrate fertiliser. Even as the price of oil has eased slightly, the cost of fertiliser is still at least double what it was eighteen months ago.
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