A brand-new price monitor for production costs such as fuel and fertiliser has been launched by the National Farmer’s Union (NFU).

The Inputs Price Monitor will compare and publish common expenses such as fuel, fertliser and pesticides on a region-by-region basis, using figures gathered from a monthly survey of members.

The will then receive a monthly email report showing the range of results and looking at average figures, by area.

NFU transport and inputs adviser Hannah Moule said: “The Inputs Price Monitor will be available to all members to use for assessing and comparing their own costs, and could assist with business forecasting.

“Members will also be able to use these figures when negotiating and dealing with suppliers.

“It is so important that our members are getting the best deals they can, especially at a time when rising input costs are having such an impact on farm businesses. Although all input costs have risen, red diesel and fertiliser, which have increased by 71 per cent and 116 per cent respectively in the past 12 months, have been especially volatile.”

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