World Grain - November 2009 - 70

FEATURE: BLACK SEA HAS ANSWER TO FUTURE GRAIN NEEDS

na Simonova of British Sulphur Consultants predicted. "This will be supported
by improved demand." Farmers would
be compensating for reduced fertilizer
applications in 2009, while the industry
had rationalized in the wake of the financial crisis, as well as running down
inventories.
She stressed the importance of gas
markets in predicting price moves for
fertilizers. The largest cost component
(gas) of nitrogen fertilizers leads to producers' exposure to the volatility of gas
markets," she said.
BANKERS STILL HAPPY
TO LEND TO AGRICULTURE
The worldwide financial crisis has
caused many farmers to worry about
whether they'll be able to get credit, said
Martin Redfearn, National Agricultural
Specialist for Barclays. "The question
we're always asked is can we still get
money," he said. "Is credit still available? Yes."
Its long-term nature helps to make
farming more attractive than some other
industries when it comes to borrowing
money. "Agriculture is about long-term
stuff," he said. "Long-term strategies
need long-term funding.
The combination of many farmers'

-I

conservative attitude to lending money
and the conservative attitudes of their
bank managers to lending it to them is
the ideal combination from the bankers'
point of view. "We love lending to agriculture because they pay us back," he
said. "We just continue to trade with the
farming industry just as we have for the
last 300 years."
"I'm not sure any of you who grow
broad acre crops will have noticed the
so-called crisis," he said. "Does it justify a change in long-term strategy? In
my view, no. Broadly speaking, it seems
to us in banking that nothing much has
changed."
He did warn that high demand when
supply is limited would push up the cost,
whatever the government thinks money
should cost. "Base rates are 0.5%," he
said. "So what?"
IRRITATION OVER GM
The conference's closing questionand-answer session gave a snapshot
of the industry's burgeoning irritation
with regulators over GMOs. "There is
no such thing as GM-free now," said
Andrew Knowles, strategy coordinator
at BPEX, the HGCA's equivalent in the
pigmeat industry. "Most producers are
paying a £60-a-tonne premium to secure

Redfearn

IP (identity preserved) GM-free soya. I
don't know how much of it would stand
up if it was tested."
National Farmers Union Cereals Advisor Guy Gagen expressed disappointment with the attitude to GM at U.K.
and European levels of government.
"We've got enormous potential damage
to our livestock sector who are the big-

aII
? 7

For more information, see Page 86.

72

November 2009 / World Grain / www.World-Grain.com



http://www.World-Grain.com

World Grain - November 2009

Table of Contents for the Digital Edition of World Grain - November 2009

Contents
World Grain - November 2009 - 1
World Grain - November 2009 - 2
World Grain - November 2009 - 3
World Grain - November 2009 - Contents
World Grain - November 2009 - 5
World Grain - November 2009 - 6
World Grain - November 2009 - 7
World Grain - November 2009 - 8
World Grain - November 2009 - 9
World Grain - November 2009 - 10
World Grain - November 2009 - 11
World Grain - November 2009 - 12
World Grain - November 2009 - 13
World Grain - November 2009 - 14
World Grain - November 2009 - 15
World Grain - November 2009 - 16
World Grain - November 2009 - 17
World Grain - November 2009 - 18
World Grain - November 2009 - 19
World Grain - November 2009 - 20
World Grain - November 2009 - 21
World Grain - November 2009 - 22
World Grain - November 2009 - 23
World Grain - November 2009 - 24
World Grain - November 2009 - 25
World Grain - November 2009 - 26
World Grain - November 2009 - 27
World Grain - November 2009 - 28
World Grain - November 2009 - 29
World Grain - November 2009 - 30
World Grain - November 2009 - 31
World Grain - November 2009 - 32
World Grain - November 2009 - 33
World Grain - November 2009 - 34
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World Grain - November 2009 - 36
World Grain - November 2009 - 37
World Grain - November 2009 - 38
World Grain - November 2009 - 39
World Grain - November 2009 - 40
World Grain - November 2009 - 41
World Grain - November 2009 - 42
World Grain - November 2009 - 43
World Grain - November 2009 - 44
World Grain - November 2009 - 45
World Grain - November 2009 - 46
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World Grain - November 2009 - 85
World Grain - November 2009 - 86
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