Animal feed prices are set to increase considerably throughout the rest of the year, it has been revealed.
BOCM Pauls, the UK’s biggest supplier of animal feed, has seen the cost of raw materials for feed rise by 20 per cent, driven largely by a 30 per cent increase in the cost of wheat.
The company and other firms in the industry will pass the increase on to dairy, poultry and cattle farmers over the next three months, according to Grocer magazine.
In addition to rising wheat costs, the dry weather has reduced yields of silage for winter feed by up to 50 per cent.
Russia has also recently been affected by a drought which has reduced crop harvests and could lead to a cut in exports to the UK.
Tom Vosa, chief economist for the Clydesdale and Yorkshire Banks, claimed food prices would rise as a result.
He said: “We expect to see an acceleration in food prices and a return to a double-digit increase by early next year if the situation doesn’t change.”
Typical Guttridge equipment used in the animal feed industry includes; conveyors – screw conveyors – chain conveyors – belt conveyors
Andy Parson
