Domestic food production is well placed for future growth as manufacturers remain keen to invest despite the recession, according to English Farming & Food Partnerships.
A recent EFFP survey of 70 senior agri-food executives found that over 90% were more confident about the future of their businesses and 70% planned to invest “significant sums” over the next two years. Of those, almost half planned to invest £500,000 to £5m and 21% planned to invest £5m to £50m.
“For farmers this confidence creates opportunity because UK food businesses are increasingly focusing on supply of single commodities from UK producers,” EFFP chief executive Siôn Roberts said.
“We have one of the most efficient agricultural sectors in Europe which itself now has a great opportunity to expand given the move to a more competitive exchange rate.”
Food processing and manufacture sector at a glance:
• £74bn turnover
• Gross Value Added of £22.7bn, 14% of UK manufacturing’s GVA
• Exports worth £13.2bn
• Made up of 6745 enterprises
• 410,000 employed directly
• 47,000 jobs supported indirectly