UACES Facebook YEAREND: Look at forecast price rises from 2022 to 2023
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YEAREND: Look at forecast price rises from 2022 to 2023

Diesel and interest are headed up; but nitrogen may be down in 2023.

By Mary Hightower
U of A System Division of Agriculture

Dec. 9, 2022

(232 words)

(Newsrooms: With mainbar 12-9-2022-ark-yearend-2022-ag-rdp)

LITTLE ROCK — Here is a quick look at forecast price increases in farm-related expenses as they appear in the enterprise budgets developed for the 2023 growing season by the University of Arkansas System Division of Agriculture for farmers.

  • Diesel and interest will be driving costs across all crops with about a 73 percent increase over 2022 in per-acre costs for both in Arkansas.
  • Nitrogen is actually projected to be about 6 percent lower in 2023 relative to 2022 across all major row crops. Biram said “this is most likely driven by the alleviation of supply chain pressures across the globe as more product is moved. However, the continued war in Ukraine will continue to place upward pressure on urea and diammonium phosphate relative to 2021.” 
  • Corn — Seed costs for corn are projected to be about 12 percent higher over 2022; Phosphate appears to be up about 2 percent while zinc sulfate is projected to be up about 15 percent over 2022.
  • Cotton — DAP is projected to be up about 7 percent over 2022; Defoliant is projected to be up nearly 10 percent over last year.
  • Rice — Insecticides and fungicides for rice are projected to be up 98 percent and 18 percent, respectively.
  • Soybeans — Phosphate and potash are projected to be up 1.6 percent and 0.5 percent, respectively. Herbicides are actually projected to be down 7 percent relative to 2022 but still up 26 percent over 2021.

To learn about extension programs in Arkansas, contact your local Cooperative Extension Service agent or visit www.uaex.uada.edu. Follow us on Twitter and Instagram at @AR_Extension. To learn more about Division of Agriculture research, visit the Arkansas Agricultural Experiment Station website: https://aaes.uada.edu. Follow on Twitter at @ArkAgResearch. To learn more about the Division of Agriculture, visit https://uada.edu/. Follow us on Twitter at @AgInArk.

About the Division of Agriculture
The University of Arkansas System Division of Agriculture’s mission is to strengthen agriculture, communities, and families by connecting trusted research to the adoption of best practices. Through the Agricultural Experiment Station and the Cooperative Extension Service, the Division of Agriculture conducts research and extension work within the nation’s historic land grant education system.

The Division of Agriculture is one of 20 entities within the University of Arkansas System. It has offices in all 75 counties in Arkansas and faculty on five system campuses.

The University of Arkansas System Division of Agriculture offers all its Extension and Research programs and services without regard to race, color, sex, gender identity, sexual orientation, national origin, religion, age, disability, marital or veteran status, genetic information, or any other legally protected status, and is an Affirmative Action/Equal Opportunity Employer.

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Media contact: Mary Hightower. mhightower@uada.edu

 

 

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