It’s not just livestock – Covid-19, climate change and the war in Ukraine are causing a worldwide wheat shortage.
The cost of wheat has doubled globally since the start of the war. In New Zealand, it’s increased about 30-40%.
There is a silver lining, however – exports are in demand, with prices at record highs.
“It’s great for New Zealand, really, when you think about it,” Acland said.
“If we were facing all these inflationary costs and we didn’t have food as our main export income, then we’d be in a great deal of trouble.”
But, he said it was hard to predict how long it would last.
Acland said there was a “real concern” a shock may be on the way and there would be a “big reset” in what people were willing to pay for lamb.
“That, for me, is the scary bit.”
