Footpath backtrack, Ukraine crisis, Vineyard views

As well as being a tragedy for Ukrainians and a severe test of the West’s ability to impose a rules-based order on the world, the Russian invasion has once again highlighted the susceptibility of agricultural supply chains – both in terms of inputs and outputs – to geo-political events. Whether this will make the government more inclined to listen to the many voices concerned about the UK’s level of self-sufficiency remains to be seen, but it certainly highlights the perils of being dependent on one region of the world for a whole range of commodities, not to mention energy. Farmers have long been told to diversify their own income streams!

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Andrew Shirley, Head of Rural Research

In this week’s update:

• Commodity markets – Ukraine crisis sparks commodity climbs
• Viticulture – Meet our new expert
• Rights of way – Footpath deadline scrapped
• Farm rents – Defra figures updated
• The Rural Report – Sign up to watch our ground-breaking video
• Overseas news – Sign up for The Wealth Report

Commodity markets – Ukraine crisis sparks commodity climbs

Russia’s invasion of Ukraine, one of the world’s largest grain and oilseed rape exporters, not to mention oil and gas producers, has prompted sharp rises in commodity markets that the figures below do not yet fully account for. According to trader Frontier, US Chicago Board of Trade (CBOT) wheat futures posted gains of almost 20% on last Friday's close and, at their peak, were at their highest level since 2008. Petrol prices in the UK also hit a record high as crude oil prices went past the US$100/barrel mark, although they had slipped back below that benchmark by the end of the week.

Viticulture – Meet our new expert

Interested in starting your own vineyard? Then find out more about Ed Mansel Lewis our new head of viticulture and his thoughts on the UK’s wine-making industry in this interview.

''The British wine industry is one of the fastest-growing worldwide, with a 70% increase in hectarage in the last five years alone,” explains Ed.

“Figures from Wines of Great Britain, the national association for the English and Welsh wine industry, show that the number of acres planted with vines in the UK more than doubled in the eight years to 2021,” he adds.

Farm rents – Defra figures updated

The average annual rent for Full Agricultural Tenancy agreements in 2020 was £185/ha, a 5% increase compared to 2019, according to updated figures from Defra. Farm Business Tenancy agreements increased by 8% to £239/ha.

Rights of way – Footpath deadline scrapped

Landowners’ groups have reacted angrily to the government’s sudden decision to scrap the long-agreed deadline for adding ancient footpaths to the definitive map of English rights of way.

Walkers and horse riders had been given until 1 January 2026 to apply to save any rights of way through private land that existed before 1949 but did not appear on official maps, after which they would lose the opportunity to add them to maps.

However, a campaign by public access groups including Ramblers has persuaded the government to think again.

The latest edition of The Rural Report, our unique publication for rural landowners and their advisors, was launched 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 – Sign up for The Wealth Report

The Wealth Report, edited by yours truly, is Knight Frank’s market-leading annual snapshot of the big issues facing global UHNWIs and their advisors. This year’s edition will be launched on Wednesday 2 March and you can be among the first to see it by signing up for our virtual launch event.

Photo by Michał Gałężewski on Unsplash