Farmers worldwide expect to tighten spending in the year ahead, according to a new McKinsey and Company survey. The survey included 5,500 farmers across 10 major agricultural markets, including the United States, Brazil and China. Compared to the survey conducted two years ago, farmers expect to cut farm expenses by twenty four percent. Thirty six percent said fertilizer would be the first area they would cut, while sixteen percent pointed to farm equipment purchases. McKinsey also found growing interest in biologicals and artificial intelligence. Fifty six percent of respondents said technical agronomists have the biggest influence on purchasing decisions.
