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Farmers looking to invest to improve resilience

The results of Budapest Bankʼs latest Agricultural Economy Index are encouraging on the one hand, as the data of the sub-indices shows that farmers felt the negative effects of the epidemic to a relatively small degree, but on the other hand the unfavorable, drought-like conditions have been a great difficulty for them, writes agroinform.hu. 

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According to 33% of those affected, the poor spring weather had the most detrimental effect on their efficiency.

According to the Agricultural Economy Index, farmers are well aware that their competitiveness, as well as their weather resistance, can be improved through improvements.

Hungarian farmers consider technological developments to be essential, and 68% of them would like to invest in various upgrades.

Tools of precision farming are also becoming more accepted, with 39% of agricultural entrepreneurs saying they want to invest in the most modern technology in the near future.