Eventually, some useful rain.

We received 80mm at the beginning of November. We were even allowed to switch the pumps on and get some much-needed water from the river.

See also: Trading carbon and natural capital – legal advice for farmers

About the author

Andrew Blenkiron

Arable Farmer Focus writer

Andrew Blenkiron manages the 4,400ha Euston Estate, south of Thetford. Principal farm enterprises are combinable and root crops, including sugar beet. In addition the estate supports let land, sheep, outdoor pigs, poultry, suckler cows, horses and stewardship.

Read more articles by Andrew Blenkiron

All we need now is the same amount of rain every month until March for us to stand a chance of replenishing exhausted reservoir stocks.

We also need help to pay for the electricity to drive the pumps.

This is not the only significant cost increase that we need to pass on to our customers, many of whom seem reluctant to pay what it costs us to produce the food, never mind leave us with an element of profit.

Thankfully, the cereals market isn’t that constrained, but with an ever-decreasing home market for feed grains and global volatility, we need to keep our eye on that one as well.

The significant reduction in pig and poultry numbers will certainly have an impact at some point.

One market that does seem to be heating up nicely at the moment is our new environmental market.

Whether it be biodiversity net gain, carbon credits or other mechanisms by which we can better capitalise our natural capital, there seems to be a massive amount of interest in what we as farmers can provide.

What we need to do is ensure that we don’t undervalue this asset.

The real challenges I find when attempting to value markets – I have limited exposure to how much to charge, how far to go and what is it worth?

To that end I find it best to start with a figure close to my wildest dreams, add a bit, or even a lot if the other side is particularly slick.

Ask the figure and wait for the reaction – something similar I imagine to what a fantastic City barrister does when they give their clients a quote.

No doubt that type of policy has some fancy title in the world of economics, some may even call it greed. But I suggest that it has to be worth a try, because many of these new customers have nowhere else to go.

We don’t want to end up in the same situation that we presently face with the retailers, do we?