Climate change warning, alt-milk giant court loss, wheat markets volatile

Our weekly dose of news, views and insight from the world of farming, food and landownership

The release of the UN IPCC’s latest report on climate change makes for sobering reading and leaves me in no doubt that this will continue to be the defining issue driving food and farming policy in the UK for many years to come. But a trademark victory by a small family firm tussling with the global alt-milk behemoth Oatly shows that just because you are claiming to be part of the climate change solution it doesn’t mean you can ride roughshod over everybody else.

Please do get in touch with me or my colleagues mentioned below if you’d like to discuss any of the issues covered. We’d love to hear from you

Andrew Shirley, Head of Rural Research

In this week’s update:

• Commodity markets – Wheat prices volatile on harvest uncertainty
• Climate change – New report takes a tough position
• Planning policy reform – Government under pressure
• Country house markets – Prices surge
• The Rural Report – Sign up to watch our ground-breaking video
• Overseas news – UK family business beats Swedish oat drink giant

Commodity markets – Wheat prices volatile on harvest uncertainty

Weather issues – it’s either too hot or too wet – around the world’s key grain producing areas helped push up November UK feed wheat futures prices to £187/t. Quality concerns around the UK’s late and weather-affected harvest are also boosting premiums for milling wheat.

Climate change – New report takes a tough position

Mankind’s damaging impact on the climate is now a statement of fact, according to the UN’s first major review of climate change science since 2013. The Intergovernmental Panel on Climate Change report concludes that the Earth’s surface temperature has risen faster since 1970 than in any 50-year period over the last 2,000 years.

The report’s strongly-worded conclusions include the following: “Global surface temperature will continue to increase until at least the mid-century under all emissions scenarios considered. Global warming of 1.5°C and 2°C will be exceeded during the 21st century unless deep reductions in carbon dioxide (CO2) and other greenhouse gas emissions occur in the coming decades.”

Such unequivocal findings will only increase the influence of climate change on the UK government’s food and farming policies.

Read the latest thoughts from Tom Heathcote, our Head of Agri-Consultancy, on how the government and farmers must work together to prevent a UK health and biodiversity crisis.

Planning policy reform – Government under pressure

The government is making a bit of a hash of its reform of the planning process, upsetting its own MPs and voters in its traditional heartlands.

With one by-election loss already blamed on the proposals will they be watered down? Find out more in the latest instalment of our Intelligence Talks podcast series.

Country house markets – Prices surge

The average price of houses in the countryside has increased by 10.5% over the past year, according to the Q2 results of our Prime Country House Index. The rate of growth is the strongest since Q1 2007 and has been driven by the pandemic-induced search for space in conjunction with the stamp duty holiday.

The Rural Report – Sign up to watch our ground-breaking video

This year’s edition of The Rural Report, our unique publication for rural landowners and their advisors, launched last month with a video highlighting some of its key content around the topic of ESG. If you missed it, you can sign up to watch on demand at your leisure. It was a lot of fun making it and includes a thought provoking interview on diversity, with Wilfred Emmanuel-Jones AKA The Black Farmer. I think you’ll find it both entertaining and informative.

Sign up to watch The Rural Report launch video

Overseas news – UK family business beats Swedish oat drink giant

Oatly, the US$12bn Swedish oat drink business, has lost its case against Cambridgeshire-based Glebe Farm Foods over an alleged infringement of its trademark and branding. An independent review recently concluded that Glebe Farm’s PureOaty drink has a lower carbon footprint that its Scandinavian competitor. Meanwhile, an activist investor has also recently questioned the company’s multi-billion dollar valuation.