Indiana Farm Bureau President discusses ’22 challenges, looks to ’23
The president of Indiana Farm Bureau is reflecting on 2022 and the challenges Hoosier farmers continue to face.
Randy Kron says there are several factors impacting the ag economy this year.
“In agriculture farmers are used to having challenges but 2022 seemed to have challenges on steroids,” he says. “Think about inflation, rising interest rates, supply chain challenges, and high input prices. Our nitrogen cost was three times plus higher than the 2021 crop. Fuel prices are also up.”
Despite these challenges, he says the better-than-expected crop season was a bright spot.
“We were pretty fortunate because we started the 2022 crop out thinking we were maybe at a breakeven,” he says. “The Russia-Ukraine conflict brought commodity prices up and helped offset the higher input costs. Most of agriculture across the board was profitable this past year. We had better crops than we expected. But, it’s sad what has happened in Ukraine.”
Kron says there will be some similarities in 2023.
“I think we’re still looking at tight supply, high input prices,” he says. “If you look at most of the university economists, they’re telling us we’re back to a breakeven scenario moving forward, so it’s going to be a little tougher.”
Each year at the 2022 INFB State Convention, the organization’s president reflects on the past year with members from across the state. INFB President Randy Kron shared his thoughts in his annual address on Thursday. Brownfield interviewed Kron during the convention on Friday in downtown Indianapolis.