Cost of essential foods could rise by 15%

The cost of essential food items such as meat, dairy, fruit and vegetables is likely to surge by a further 15% this summer, analysts have warned.

Food price increases will last much longer than initially predicted, according to the Institute of Grocery Distribution’s (IGD) latest report.

This is due to issues such as the Ukraine war, pre-existing supply chain challenges and the “limited effectiveness” of monetary and fiscal policy.

The organisation’s report warns that the UK economy is facing its strongest period of inflationary pressure since the 1970s. 

The predictions will likely deliver yet another blow to the most vulnerable households in the UK, who will be hit the hardest by the spike in food and drink prices.

IGD calculates that the average monthly spend on groceries for a typical family of four will reach £439 from January 2023 – a major rise from £396 in January 2022.

The strongest inflation pressure is expected to come from meat, cereal products, dairy, fruit and vegetables, the report explains.

In particular, products that rely on wheat for feed, such as white meats, are likely to see prices soar in the short term.

IGD predicts that the acceleration in food inflation is likely to last until mid-2023. And the UK food industry is “uniquely exposed” to pressures due to a reliance on food imports and the impacts still being felt from Brexit.

What is asset finance and how can it benefit farmers?

Asset finance is a great way for farm businesses to purchase assets without taking out an expensive loan. The funder will pay the cost upfront and you can spread payments over agreed terms, as opposed having one large payment at once that could be difficult if your operation grows or changes dramatically in some other ways.

If you think about all of the assets that your farm has, this could represent a significant amount cash tied up in business. This could include machinery and tools for work onsite or vehicles to transport people around when they are not working at their own premises – it really depends what type is needed!

Using asset refinancing can help you secure better borrowing rates than a business loan and you can offset the monthly repayment against your tax liability, making it a tax efficient way of borrowing funds.

How we can help?

  • We have funders that will finance both hard and soft assets.
  • Instant quotes available.
  • An initial decision within hours.
  • A quick and easy application process.
  • A designated account manager to help answer any questions that you may have.
  • More importantly, we are not tied to one funder, so we can search the market.

Award-winning electric tractor manufactured by Farmtrac

The first all-electric tractor has generated a lot of interest, winning awards and featuring in multiple TV programmes.

Farmtrac’s FT25G tractor has also impressed the farming industry’s electric vehicles and technology enthusiasts. 

The compact 25HP tractor won the SALTEX Innovation Award in the Environmental and Sustainability category at the end of last year.

The machine has also been reviewed by celebrity farmer Adam Henson, who put it through its paces around the farm and in a Top Gear-style Battle of the Tractors for BBC’s Countryfile and Fully Charged TV.

The race to net zero for poultry farmers

It is true that poultry farming has been considered one of the lower carbon emitters in agricultural sectors, but this does not mean it will be an easy transition for everyday farmers.

This is especially true for broiler farmers which rely heavily on fuel and natural gas to maintain house temperatures. 

Globally, the poultry meat sector is liable for 8% of all agriculture carbon emissions with approximately 100kg of CO2 produced per 1kg of meat.

The average poultry farm produces around 85% of its total carbon emissions from the feed. This is due to soy being used as it provides high levels protein and promotes strong growth, meaning more birds can be raised on less land with lower resources like water or food for them!

Soy is mainly produced in South America and has been criticised as one of the leading contributors to deforestation.

Due to the long distances the feed has to travel the CO2 produced in transporting is high, greatly increasing its negative effects on the planet.

In an effort to reduce the amount of soy used in chicken feed and create a more sustainable industry, several companies have begun trials with different alternatives. These include fats from olive oil or canola plants as well as lupin grains which are often thrown away because they don’t grow enough protein on their own lifespan but may be worth looking into for future generations!

One solution that could be promising is feed supplemented with insect protein. The larvae of the black soldier fly can be as high as 65% protein and require very little breeding space. Research is currently be conducted to see what effect this has on poultry health and egg quality.

What is agricultural finance and why do farmers need it?

Agricultural finance comes in many forms. Whether it’s farm start-up loans, getting a loan to buy cattle or farm machinery finance, farmers need access to the funds financing offers. Financing can also be sought to allow the expansion or diversification of the farm.

In order to produce crops, farmers need to invest in land, equipment, and other supplies. Unfortunately, farming can be a risky business, and sometimes it’s hard for farmers to access the capital they need to get their businesses off the ground or keep them running. That’s where agricultural finance comes in. Agricultural finance is a broad term that refers to all the different ways that farmers can obtain financing for their agricultural businesses.

When you need help with your finances, Richmond Asset Finance is here for all of the unexpected costs. Whether it be new equipment or just general advice on how to manage them more effectively in this tough economic climate – we have what every farmer needs!

With all of our experience, you know that we are in safe hands. With a better understanding on what farmers need to succeed today’s market conditions have made us an even more valuable company than before – let us help make your next venture successful!

Purchase of Land

We have a proven track record of helping businesses expand their operations and we’re always on hand to do so again.
We’ll help you take full advantage of any opportunities that come up, no matter how small or large they may seem at first glance!

We understand that you may be looking for a loan with low rates and flexible repayment terms. We have just what your searching need, as our loans don’t come at an early redemption fee so can allow more time than other lenders would previously allow before refinancing into less expensive conventional mortgages!

Whether you need help with land acquisition or just want an assessment of your current situation, we can provide it. We will consider all types property- even if there are specific issues regarding access rights and invasive species which make some pieces not suitable for cultivation due to their natural condition – come talk to one our specialists!

How does farm finance help farmers?

Farmers are exposed to a multitude of factors that can place stress on their finances. Farmers know that they can’t necessarily count on a future harvest as money in the bank – while they may have made a big profit one year, they may struggle to match this with their next harvest. Because they’ll still have to meet a lot of expenses even if they have a poor year, farmers need to keep enough money on hand to pay wages and invest in more seed and livestock, but this prevents them from investing in expanding their farm. Money tied down to protect against a bad year is money that could be spent on new equipment, new land and other income-generating investments.

This is why agricultural finance can be such a useful tool for farmers: it reduces their obligation to keep cash on hand “just in case”, and lets them invest profits as and when they wish. Because farmers are able to source the finances they need from specialist lenders they no longer have to be exceptionally cautious in their spending, and can afford to take on opportunities that they might otherwise need to forego.

We have a flexible option for expanding your livestock holdings that can be used repeatedly, allowing you to make judicious purchases or sales as the market requires. This could include auction contracts with us and other providers of this service; opportunistic B&B’s where we’ll provide longer term heifer replacement services in exchange for using our facility again when needed-or just utilising one good harvest completely before trading down again!

Finance summary

We all know how difficult it can be to manage cash flow when you’re running your own business. That’s why we are here for you! Our team of experts has years experience in helping businesses like yours, with specific assets or funds that will help them expand their reach and ease the pressure on what little profits they might already have coming in each month.

The plant, machinery or machine tools often indicate expansion. You will need to be up and running as quickly as possible which is why our team works hard at providing you with the right financial solutions so that it’s not only about securing finances but also getting them when needed!

There’s no definitive list for what could be financed. Most things that you would need within your business can easily get financing, so don’t think of it as impossible before asking the question!

We’ve helped our clients with their financial needs for many years. Here are just a few of the services we offer:

  • Machinery
  • Machine Tools
  • Backhoe Loaders
  • Excavators
  • Attachments
  • Forklifts
  • Heavy lift Machinery
  • Compactors & Rollers
  • Dumpers
  • Trailers


A guide to understanding how much money you can expect from your business and what options there may be when it comes time both tax savings as well as other benefits such taking out loans or investing in property etc., depending on where they want/need more cash flow going forward – this is all dependent upon individual circumstances though so don’t worry if something sounds “out of the ordinary!” because every situation will vary slightly.

Farm Finance

How farm finance can help you save money when you get the basic knowledge before applying for agricultural finance.

The agricultural industry is subject to more stress from external factors than almost any other; in addition to the economic factors of supply and demand, farmers are also at the mercy of the UK’s changeable weather. While one year might produce a bumper crop the next might be a total failure, and there are very few certainties that farmers can count on.

With this in mind it’s vital that farmers have some way to counteract the annual fluctuations in their farm’s profitability, and being able to access a flexible and specialised form of finance is invaluable for those in the agricultural sector. Farm finance is a key part of any farmer’s year-to-year strategy, and without a stable backup plan that can provide cash when it’s needed farms are in a very precarious position.

While farm finance might be a necessity, farmers should be careful to understand precisely what the terms and conditions of these loans are. Although many farm finance specialists are able to provide highly tailored solutions that mirror the needs of their clients, not all loans are suitable for every situation. Therefore, farmers should seek the counsel of a professional financial advisor before committing to a financial product of any type, in order to ensure it’s appropriate for their circumstances.

Yellow Plant Finance by Richmond Asset Finance

We can finance a range of yellow plant to the construction related industries. In addition, Richmond Asset Finance can finance new and used excavators, mini diggers, backhoes, loading shovels, mini excavators, crushers, cranes, dozers, dump trucks, tractors to business in the UK.

Richmond Asset Finance specialise in arranging business finance and leasing of all yellow plant and construction equipment from most of the recognised brands in the market place such as Hitachi, CAT, JCB, Kobelco, Benford, Komatsu to name but a few. We can also arrange business finance and leasing on other yellow plant and machinery such as Excavators, Dozers, Dumpers and Rubber Tyred Machines, Teleporters and also peripheral equipment like Rock Breakers and Buckets to suit all types of machines.

The team at Richmond Asset Asset Finance pride ourselves on supplying a prompt, reliable and helpful business finance and leasing service at all times and are confident that the quality of our service and standard of service is second to none.

Whether you’re a long-established business, having current trading difficulties, new start up or a Phoenix Company, we have the experience and funders to get the deal you are looking for!

  • Agricultural Finance
  • Asset Finance
  • Asset Re-Finance
  • Commercial Bridging Finance
  • Haulage Finance

Secure finance for agricultural vehicles and tractors

We know the importance of having access to the most up-to-date farm vehicles, tractors, and agricultural machinery. But the initial costs of investing in new tractors can be high, and traditional finance options aren’t always available to growing farms. Whether you are looking for new or used vehicles, our asset finance solutions are designed with your exact requirements in mind.

Alongside livestock finance, funding for farm diversification projects and agricultural equipment leasing, we provide vehicle finance so that you can unlock capital to grow your agricultural business with reduced risk. We specialise in helping farmers to fund both new and used tractors and other farm vehicles.

What farm vehicles can be financed?

Whether you need to buy a new tractor or a new combine harvester in order to cover larger areas more quickly, we can provide finance to help you scale your agricultural business or solve immediate problems with cash flow.

We can provide finance for:

  • Tractors
  • Combine harvesters
  • Agriculture trailers
  • Loaders
  • Tractor attachments

Tractor Finance

We’re here to help…

Tractors are the lifeblood of any farm and are vital to the success of a lot of agricultural businesses.

With no age limitation, any tractors or other machinery that you’re looking at purchasing can be new or used and supplied by either a specialist dealer or bought privately.

We can arrange funding for the purchase of a new or used tractor, restructure existing finance agreements and provide you with flexible seasonal payments options.

If you don’t have time to speak to someone, drop us an email and we will be happy to help.

Our specialist agriculture team in-house will be able to help with any financial needs you might have.

We can provide finance for a wide variety of agricultural assets, from cultivators, tractors and combine harvesters to livestock, robotic milking machines and crop sprayers, and we’ll guide you through every part of the agriculture finance process. 

As well as arranging funding for the purchase of new and used agricultural equipment, we can also look at other options like restructuring existing finance agreements or providing flexible seasonal payment options.

With the government’s target of being carbon net zero by 2050, we are also keen on working with businesses who are looking to utilise renewable energy.

Agricultural Financing for Farmers

With today’s advance and changing world, new technologies have emerged in the agricultural sector. It’s needed and important to increase the production in farming. Every farmer wants to avail of this new technology however not all can afford an upgrade. Farmers specially in developing countries cannot afford to have this technology. They do not have the capital and money to purchase the newest equipment and tools. Because of this they opt to stick with the traditional way of farming because there is nothing they can do.

Farmers need money or capital to increase one’s production. Farmers need to adapt and embrace the newest technology that can help them in their farming needs. This in return will yield better harvest and production. But not all farmers have the capital and money to spend for this. This is where they seek farm financing. Farm Finance has become vital to these farmers because it can help them gain the needed money for financing various farm resources. Aside from banks credit agencies are also available in some rural areas. They can assist farmers with their capital needs by providing credit to farmers. However, the credit policies, credit rationing, interest rates and other factors can have a significant bearing on farm returns.

The Importance of Financing in Agriculture

Agriculture plays a big role to the life of people especially in developing countries. It has a great impact on people living in the rural areas. Many rely on Agriculture as a source of their daily income. However, access to agricultural finance may be a problem for most. Many are not able to get financial support for these agricultural needs. This maybe a hindrance for farmers to level up. This can be a factor for them not to avail new technology and devices that can improve in their farming and agricultural needs. All these new technology and devices can help increase proficiency and production.

With the coming years there is a high demand for food and other agricultural products. In this case the agricultural system should improve. The only way to attain this is by acquiring the newest agricultural devices and technology. These are good investments that would allow farmers to produce more.

What can you finance with Richmond Asset Finance?

There’s no definitive list for what could be financed. Most things that you would need within your business can be financed, so don’t think that it’s not possible before asking the question.

We’ve put together a few things that we’ve helped with finance for over the years to give you an idea of our experience and what’s possible. Remember though, this isn’t everything, it’s just a guide to help you understand what’s possible:

  • Machinery
  • Machine Tools
  • Backhoe Loaders
  • Excavators
  • Attachments
  • Forklifts
  • Heavy lift Machinery
  • Compactors & Rollers
  • Dumpers
  • Trailers
  • Hydraulic Hammers

Can’t find what you’re looking for? Contact us today and we’ll be happy to help!

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