Farming and agriculture remain a major part of the UK’s economy as we speak, but as we reach the halfway point of the year, what trends can we predict, not only in how those within the industry conduct their business but for how they will operate in order to maintain and grow their business?
No doubt, trends in farming and agriculture will be affected in some manner by Brexit, at least for British traders. Though the full impact of Brexit won’t be known for many years, the turmoil that Britain’s exit from the European Union has already caused includes the value of the pound sterling dropping significantly, and with many businesses having evaluated the steps that they can take to not only reduce what will likely be rising costs of trading internationally, but to also retain their international clients, and reassuring them that Brexit does not weaken or even eliminate client relationships. Though this may not be a trend per se, it is a dilemma which many farmers (especially those operating on a smaller budget) will be facing, and the vast majority will be taking one or more of the above steps, if they haven’t already.
Population growth, particularly in Africa and Asia, will also have an impact on farming and agriculture. Indeed, agricultural demand is expected to increase in line with the rising global population, which is projected to reach 9.7 billion by 2050. Of course, that’s a long time away, but meeting the rising demand is still an issue now and will be in the next few years. It will be a challenge for farmers to meet this increased demand and to establish new working relationships with traders in the smaller, low-income countries where populations are rising more rapidly, especially in light of the economic uncertainty as it pertains to Brexit.
Closer to home, what can we expect? Fortunately for those concerned about Brexit and rising global populations, innovative new forms of technology are making the process of farming easier, quicker and more efficient than ever before. FitBit For Cows is one such example, which provides real-time information for the health of each herd, whilst the ‘agrimetrics’ data will be able to support farmers and boost food production, thus potentially allowing farmers to produce, sell and export more than ever before.
There is also the growing presence of what are known as “Agricultural Robotics”. These were covered in a recent report which suggested that GPS-enabled autonomous tractors and other GPS-enabled assets within farming, along with the increased use of digital agricultural machinery, could lead to its once-miniscule aspect of the field reaching a value of $12 billion within the next ten years, which will no doubt have an impact over in the UK. The digital world is larger than ever, and as new innovations such as these become more commonplace, and as farmers understand how to maintain and grow working relationships in the wake of Brexit and rising global populations, the farming and agricultural industries look set to continue prospering in the near future and for many more years to come.
To find out more information about the future trends in farming and agriculture, you can visit www.silocleaninguk.com.