Red diesel prices increase

The price of agricultural diesel across NI has continued the move upwards with suppliers quoting from 52p/l to 54p/l (including VAT) for red diesel delivered on farm this week.

Prices from suppliers are dependent on the amount of diesel ordered and the delivery distance, but the general trend upwards is across the board.

Prices have increased by 25% since August, which equates to a rise of around 10p/l. This puts the current agri-diesel prices in NI at the highest level since June 2015 and a sharp contrast from lows of 33p/l, which were on offer in February this year. The increases in prices are primarily due to weakness of sterling against the US dollar and gains in global oil markets.

On Tuesday of this week, Brent crude oil prices moved back by slightly to $51.55/barrel, down from a 12-month high of $53.73/barrel last week. Oil markets reacted well to news that Russia would support OPEC countries in reducing production and have increased significantly from below $28/barrel in January.

Sterling remains weak against the US dollar, trading at £1=$1.23 on Tuesday compared to £1=$1.4694 before the Brexit referendum.

Vet injured in TB test

A private vet was injured by an animal last week during a TB test on a farm in the Castlederg area and had to be taken to hospital by ambulance.

The Irish Farmers Journal understands that the young vet was under inspection by two DAERA vets when she leaned into the crush and was hit by the animal.

Groceries Code Adjudicator review

A consultation has been launched on extending the remit of the Groceries Code Adjudicator (GCA) to cover primary producers and other members of the supply chain.

The GCA was established in June 2013 to monitor trading practices between the 10 largest grocery retailers in the UK and their direct suppliers.

A separate consultation has also been launched on a statuary review of the first three years of GCA.

The Ulster Farmers’ Union has said it will be encouraging members to highlight that farmers are currently not covered by the code. Both consultations are available at www.gov.uk/government/publications and close to responses on 10 January.