GREEN BAY, Wis. ― In a changing global marketplace, dairy farmers are evolving how they do business, including more of an emphasis on areas they have not traditionally evaluated.
ESG (Environmental, Social and Governance) continues to be a priority as farmers figure out how to monetize more sustainable farming practices and better integrate with the food supply chain. Dairy Stream host Mike Austin talks with Sam Miller, managing director of agriculture at BMO Harris Bank, about the future focus areas of the food value chain, rising costs and ESG.
Thank you to BMO Harris Bank for sponsoring this episode.
(Use of audio clips is encouraged with attribution to “Dairy Stream, co-produced by Dairy Business Association and Edge Dairy Farmer Cooperative.”)
- 1:28: Overview on the BMO Harris Farm to Market conference
- 3:08: How supply chain issues impact businesses
- 6:38: HowCOVID-19 has changed supply chain behavior
- 8:37: Global disruption impacting inflation
- 11:51: Strategies to limit inflationary pressures
- 14:29: Why rising costs are the most critical issue to inflation
- 16:26: How a farmer can manage labor and other costs
- 19:20: Shifting consumer behaviors, elasticity of demand and food security concerns
- 28:53: Why ESG is so important for agribusinesses to focus on
- 34:30: Why sustainable farming practices are becoming more important for business
- 38:41: How responsibility to shareholders impacts farmers
- 41:48: How companies balance short-term challenges with long-term strategy