Looking over the boundary fence
While the future may be uncertain for farming, it’s reasonable to expect that there will be greater competition, shifting dynamics in traditional export markets and a change in agricultural policy.
Planning ahead is vital, but what are the key areas to focus on?
Research by Andersons on behalf of AHDB showed that, regardless of sector or farm size, the top 25 per cent of performers, in terms of their ability to turn inputs into outputs, remained profitable.
Comparing yourself with others and gathering information is key, which is why we launched our key performance indicators in 2017. The KPIs are tailored to all-year-round and block calving systems and consist of six technical and three financial measures.
To speed up the comparison with others we recently launched a new KPI Express tool to help farmers review their performance figures. The tool provides useful links to relevant resources and case studies with guidance and suggestions to address any development areas.
It’s a great way to calculate your figures and start your benchmarking journey. And if you wish, you can complete all KPIs or work towards full business benchmarking with Farmbench.
Get started with the KPI Express tool today at kpiexpress.ahdb.org.uk/
Derek Carless is AHDB head of farm economics
