9 emerging agriculture technology trends your business needs

By 2050, the world’s population is predicted to reach 9.7 billion, requiring a 70 per cent increase in the number of calories needed for global consumption (McKinsey). As well as tackling growing food pressures, those in the farming industry need to combat current environmental issues, higher standards for animal welfare and rising living costs.

Amidst this seemingly impossible task, however, advances in digital technology could provide some much-needed answers.

Below, international transfer specialists, Clear Currency, share nine of the latest innovations in the agri-tech industry and reveal how Norfolk agribusinesses can devise an effective FX risk strategy to maximise profits and protect their future.

1. Smart crop monitoring

Sensors, drones and other communicative IoT (Internet of Things) technologies allow farmers to track real-time data to efficiently care for their crops.

By monitoring temperature, rainfall and pest infestations, agricultural businesses can reduce expenditure while boosting productivity, product quality and yields. Tracking the soil’s condition means farmers can adjust fertiliser and nutrient application and reduce the use of harmful chemicals, which benefits the land and local wildlife.

Tracking weather and other real-time data using sensors can help agribusinesses boost crop quality and yields. (Image: Getty Images/iStockphoto)

Efforts to restore arable land and adopt eco-friendly farming methods can be rewarded with government subsidies. Sheffield-based project aiScope received £1 million to use AI analysis to tackle black-grass, a common cereal weed, with the aim of saving farmers around £580 million a year (gov.uk).

2. Water management technology

By 2030, it’s predicted that climate issues could leave between 24 million and 700 million people across the globe affected by water scarcity (WaterAid). To help combat this, it’s imperative to employ water-saving procedures.

Innovation in agricultural technologies means that there are now more sustainable ways for farmers to irrigate crop fields. Micro drip irrigation systems can reduce water usage by up to 50 per cent, while still allowing farmers to care for dry fields during warmer months (Mass Challenge).

3. Autofarming machinery

Automatic tractors, robotic harvesters and self-operating watering and seeding machinery can help to reduce labour costs, waste and CO2 emissions (Agritech Tomorrow). Farmers will be able to simultaneously operate machinery across numerous fields, saving them time and improving accuracy for better crop and land care.

Automated machinery will help the agriculture industry adopt greener practices and contribute to the government’s goal of achieving net zero greenhouse gas targets by 2050 (gov.uk).

4. Advanced livestock management

There are a number of technologies designed to improve living conditions for animals and address growing welfare concerns.

Clear Currency can help Norfolk agribusinesses develop successful FX strategies, allowing them to make cost-effective investments into smart technologies that improve livestock welfare. (Image: Getty Images/iStockphoto)

For example, body sensors allow farmers to observe an animal’s pulse, blood pressure and temperature, so they can better detect and prevent disease and distress.

AI can be used to automatically adjust barn ventilation and heating, as well as operate automated cleaning systems to remove waste. Installing self-sufficient feed dispensers can provide feeding mixtures tailored to livestock’s specific needs in the correct amount (Mass Challenge).

5. Computer-run equipment management

Computer systems and chips can measure silo and warehouse levels and enhance storage conditions (McKinsey). This makes it easier for farmers to monitor stock levels, and utilise automatic reordering to lower inventory costs. Precisely tracking building conditions can decrease energy consumption, extend the life of equipment and prevent costly repairs.

6. Bee vectoring

Bees are an essential part of our ecosystem, which is why it’s become imperative to protect them. Bee vectoring technologies maximise pollination and improve crop yields and soil quality. This is achieved by using scientifically crafted hives where bees collect traces of pest control powder on their legs, which they then pass on to crops (Mass Challenge).

Replacing chemical pesticides with an environmentally-friendly solution minimises any damage to the surrounding countryside and wildlife. With this method, farmers can also avoid spraying water and using tractors, making it easier to tend crops, all while lowering operational costs and energy use.

Use Clear Currency's FX tools and secure online payment platform to purchase innovative tech, like bee vectoring, which helps to protect the land and local wildlife. (Image: Getty Images/iStockphoto)

7. Regenerative agriculture

A conservationist approach to farming, regenerative agriculture, aims to improve ecosystems (Farmers Forum). One method is agroforestry, which involves planting hedges and trees around field edges to increase shade, prevent desertification and remove carbon dioxide from the atmosphere (Friends of the Earth).

8. Indoor vertical farming

The average yield of rice per hectare is approximately between three and six tonnes (Mass Challenge). However, vertical farming enables landowners to use stacked shelves to grow more crops within limited spaces and better-controlled environments.

Vertical farming often involves using hydroponic or aeroponic systems, meaning no soil is required. The process uses 70 per cent less water than other typical growth methods and cuts costs as companies can use robots for harvesting and planting.

Hydroponic growing uses 70 per cent less water than other typical growth methods. (Image: Getty Images/iStockphoto)

9. Minichromosome technology

Geneticists have developed technology to create plants that are more resistant to pests and tolerant of drought. They require fewer pesticides and offer improved nutritional quality (Agritech Tomorrow). Advancements like this can help to combat water scarcity and limitations of arable land, especially in developing countries. This will be essential for helping to address increasing food demands.

Embracing a greener future with help from Clear Currency

It’s becoming abundantly clear that agricultural businesses need to adopt sustainable technologies to develop and remain profitable. For Norfolk farmers and SMEs, being able to do this will require an effective financial strategy.

China, Italy, Germany and the US are some of the most popular countries for UK companies to source farming equipment, as they provide more affordable rates. It's therefore crucial to find a trusted international payments provider who can help manage your overseas transactions and offer guidance on mitigating exposure to currency risk.

Clear Currency can help you navigate the world of international payments and manage your annual budget.

Their online payments platform allows you to complete same-day transfers and track every payment you make at each step of the transaction. They offer competitive exchange rates and don’t charge additional fees. With their help, you can make payments across several currencies and countries with ease. This can help you to lower expenditure, boost profit margins and take the steps you and your agricultural business need today for a brighter tomorrow.

Clear Currency is FCA regulated and has a 5* Trustpilot rating.

To discover how they can help you, sign up for a free account or visit clearcurrency.co.uk. Call +44 (0)20 7151 4871 or email edp@clearcurrency.co.uk.