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HSBC Head of Agriculture Allan Wilkinson has declared 2013 as the year the agricultural sector needs to concentrate “on the basics” in order to preserve margins. Launching HSBC’s 37th annual Forward Planning publication for the agricultural industry, Wilkinson warned that farm incomes are expected to plateau next year, which means farmers must place extra emphasis on costs of production and enterprise margins.
Produced in consultation with Andersons, the farm business consultants, Forward Planning provides estimates of cost of production and income for each of the main agricultural enterprises, enabling farmers to forecast business profitability. The booklet adopts the same methodology as HSBC’s Agriculture team to calculate margins and returns.
