Against the backdrop of the challenging global environment for farmers, a recent report has revealed the current and future spending habits by farmers on general “agri-tech,” plus biologicals and generative AI – with some surprisingly positive results.
Over 5000 farmers across Europe, North America, LATAM and Asia were surveyed as part of the biennial McKinsey & Co “Global Farmer Insights” report.
The top line picture is – unsurprisingly – one of farmers preserving their cash, delaying new purchases where possible, and a laser-focus on ensuring a short-term return on investment. But while the intent to spend has shrunk sharply since the last report, the resilience and indeed optimism of the industry is evident.