“Concern about the war’s impact on input prices and input availability on their farming operations was paramount in the minds of producers responding to the March survey and was a major factor in this month’s decline in sentiment,”

said James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture.

The March survey provided the first opportunity to ask producers how they expect the war in Ukraine to affect U.S. agriculture. Producers overwhelmingly said they expect input prices to be most affected (63% of respondents), followed by crop prices (33% of respondents), and livestock prices (3% of respondents). Responding to a related question, 19% of respondents chose “availability of inputs” as their biggest concern in their farming operation this year, which was equal to the percentage of producers who chose “lower crop and/or livestock prices” as their biggest concern.

Diving deeper into producers’ expectations for farm input prices in the upcoming year, 57% expect farm input prices to rise by 20% or more, and 36% think input prices will rise by 30% or more. And, just over one-fourth (27%) of producers say they’ve had difficulty purchasing crop inputs for the 2022 crop season. Producers report that supply chain problems persist across a wide range of inputs, with herbicides, fertilizer and farm machinery parts posing the most problems.

Producers continue to say that they expect their farm’s financial performance to decline in 2022 compared to 2021. The March Farm Financial Performance Index, which asks producers whether they expect their farm’s financial performance in 2022 to be better than, worse than or about the same as in 2021, was up slightly (4 points) at a reading of 87 but remains 30% lower than a year earlier.

“When producers think about how their farm will fare financially in 2022, it’s clear they do not expect commodity price strength to offset the dramatic rise in farm production costs they are experiencing,”

Mintert said.

Producers do not view this as a good time to make large investments in their farming operations as the Farm Capital Investment Index fell again in March. The index was 6 points lower than a month earlier and 59% lower than in March 2021 when it was near its all-time peak. In a pair of follow-up questions, 62% of respondents said their plans for farm machinery purchases in the upcoming year are lower than a year earlier, which is the most negative response to that question since May 2020. When asked a similar question about their plans for farm building and grain bin construction, 68% of respondents chose “lower,” which was the most negative response received to that question since its first inclusion in a barometer survey in May 2021.

Supply chain problems continue to haunt both the farm machinery and construction sectors and are one of the reasons producers don’t view this as a good time for large investments. For example, 42% of producers this month said their machinery purchase plans were impacted by low farm machinery inventories, consistent with industry reports that major machinery manufacturers are experiencing order backlogs.

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This prestigious acknowledgment was the culmination of research conducted in partnership
with the National Biodiesel Board and National Renewable Energy Lab (NREL) and focused
on different biodiesel blends and their effects on FPT’s latest North America product range.

In particular, the NBB-funded research involved a NEF six-cylinder engine certified to U.S. EPA Tier 4 Final, which was endurance-tested at the NREL lab in Colorado.

The final results, presented in Kansas City, showed positive results in FPT Industrial engines’ ability to operate with different biodiesel blends. The project also highlighted the need to approve similar projects in order to expand usage to further reduce the agroindustry’s dependence on fossil fuels.

“I am pleased to see that this partnership generated valuable data for our research and development activities. We also gained recognition in the industry for our efforts. This project really shows what’s possible when we leverage our external partnerships to push forward change in our industries together,”

comments Chris Walters, head of Regulatory Affairs Engine Emissions at CNH Industrial.

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The EESTF, scheduled to meet monthly through the end of 2022, has tasked itself with educating industry professionals on potential future emission requirements, the changes to power trains and the impact that will have on equipment design, and cost implications. In addition, the task force may help others understand that there may be a different technology solution for different applications/machine types.

“I look forward to leading this task force and representing the AEM membership’s interests as we work to understand, influence, and effectively communicate the industry’s emissions strategy,”

said David Nicoll, product manager, Industrial Power Systems Division at Caterpillar and EESTF Chair.  

The EESTF’s initial activities serve to help its members fully understand where regulations currently sit around the world, with a specific focus on the emissions-related rulemakings from the U.S. Environmental Protection Agency (EPA) and the California Air Resources Board (CARB). The group discussed the need to level-set the task force not only on next-generation emissions but also on decarbonization. There are also several opportunities for collaboration with other industry associations, which may provide additional information and discussion. 

Recent discussions have focused on how best to comply with newly introduced emissions regulations, and how these rules may disrupt investments and the use of resources in the future. Topics included: 

• Decarbonization 
• Powertrain changes 
• Electrification 
• New features or design changes 

Prior to the task force determining their desired outcomes, more discussions, and a better understanding of implications require further study. As a next step, the committee decided to collect information on the current state of engine emissions regulatory activity, along with potential obstacles and risks related to their implementation.  

Including alignment with AEM’s Regulatory Affairs Working Group, the EESTF will also provide guidance to the newly formed Alternative Power Technical Committee (APTC). The APTC will provide a centralized discussion and collection point for the technical aspects of global regulations and standards related to the adoption of non-diesel and non-gasoline technologies. The group will attempt to: 

• Identify new and developing technologies 
• Determine potential industry-focused applications 
• Monitor compliance obstacles, and 
• Address regulatory and standards challenges 

Source: AEM

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Submitted to the shareholders’ vote at the last Shareholders’ Meeting, it was very widely approved (99.91%) and is now enshrined in the company’s articles of association. It is intended to guide the group’s future strategic choices and reinforces Bonduelle’s long-term vision. It reaffirms the company’s determination to play an active role in the socio-economic and environmental challenges of today and tomorrow.

Towards a more resilient model that creates positive impacts

Committed to the B Corp certification process and a founding member of the B Movement Builders, Bonduelle reaffirms its commitment to a resilient business model that creates a positive impact for all its stakeholders. In co-construction with its employees, the group has clarified its mission and enshrined it in its articles of association.

“We inspire the transition toward a plant-based diet to contribute to people’s well-being and planet health”.

A mission that is both the starting point of a very engaging approach for the group, but also the formalization of what the company has been working towards for several decades. It demonstrates Bonduelle’s determination to go even further and accelerate its development as a company with a positive impact.

A new course and a roadmap to build

In order to move forward in realizing the company’s mission, a roadmap is currently being drawn up, focusing on the three major transitions in which Bonduelle is involved and the major challenges that the group intends to meet:

• The food transition, because more and more people need to be fed healthily while preserving resources, and because plants are THE solution for doing so.
• The agroecological transition, because plant production must increase to feed a growing population, and because natural resources and arable land are under threat (biodiversity, soil depletion, climate change).
• The socio-economic transition, because the commercial, financial but also human activity of companies (as employer and consumer prescriber) generates an impact on society, the economy, health, and the environment.

The B Corp ambition for 2025 accompanies the group in its desire to become a “best for the world” company. Bonduelle also relies on the sustainability of its business model, which is inseparable from the positive impact.

The changes that have already been underway for several years to achieve this goal are helping to lead Bonduelle towards this quest for a better future through plant-based food.

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