Eddie Expects Much Of The Same Into 2023
The past year was a mixed bag for Northwest producers. Several growers enjoyed near record profits thanks to high commodity prices and government subsidies. But unfortunately, high input prices cut into those gains, making 2022 flat or even a negative year for some across the region. When it comes to the year ahead, Andrew Eddie expects more of the same.
“Projections going into this next year, from the sources that I have and what I've heard, [input costs] are probably looking to be about the same probably, maybe another 3%-5% increase. And then supply and availability of certain products is going to be kind of kind of tight.”
The President of the Washington State Hay Growers Association added he will watch political and economic activity across the Atlantic very closely.
“Europe, with their natural gas high natural gas prices is going to impact fertilizer, and stuff like that as well. So I think you really got to pay attention to where you're at and what you got for sure.”
Eddie said going into 2023, more than in recent years, its important growers make a budget and stick to it. And he added with uncertainty with supply chains and availability, he added if you can afford it, it’s not a bad idea to purchase inputs now rather than waiting until the weather warms.
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