Recent weather impacts could lead to increased costs and have long-term implications, according to experts
2023 has been filled with adverse weather for growers, and some industry experts fear it could lead to long-term implications for their pockets.
Exerstream Analytics says that there have been fifteen weather-related disasters around the world this year, totaling more than $1 billion dollars in losses.
The group says that this new pattern could lead to a shortage of inputs for the ag industry, as well as increased transportation challenges.
Taking a look back over recent events that have had a great impact on ag:
- In 2021, a hurricane shut down production at a Bayer glyphosate plant for two months.
- The past two years have been filled with transportation issues due to low water levels along the Mississippi River and now the Panama Canal
- This year, Canada experienced its worst-ever wildfire season, which not only impacted farmers in the country, but smoke trickled down to the U.S. and impacted air quality here
CoBank says that the answer for agriculture is to be as prepared as possible, as “normal” could become very different in the years to come.