Farming news: ‘Financial catastrophe’ risk as grain and energy costs soar after Russia war | City & Business | Finance

Vikki Campbell, arable market specialist manager at the Agriculture and Horticulture Development Board, explained that, while many growers would now be covered for this season, the question of replacement for next year would be important, when prices may potentially be much higher.

She told Express.co.uk some growers were reporting holding back on fertiliser use this year as a result which could in turn lead to lower crop yields.

While commodities such as wheat only make up a relatively small part of product prices, around 11 percent for a loaf of bread, further sections of the supply chain such as milling are also facing higher operating costs which could further add to supermarket prices.

Bread has already been predicted to increase in price by as much as 20 percent, adding 24p to a £1.20 loaf.