UK agriculture ‘failing to attract private investment’
THE English Food and Farming Partnership (EFFP) is set to launch a project aimed at increasing the level of private investment in UK agriculture.
Headed up by EFFP chairman and former head of agriculture at HSBC, Steve Elwood, the project will aim to seek out potential investors and develop a model for investment in the UK industry.
Mr Elwood said the industry was lagging behind others in the economy and despite the outlook of higher prices in the coming decades, had failed to attract vital investment to help businesses move forward.
Speaking at the EFFP conference in London yesterday (Tuesday, November 3), he said: “Food production in the UK must be seen as a good and attractive investment opportunity.
“There is a gap in funding and we believe at the current time there are no operating funds dedicated to agriculture in the UK
“If you look at people who have invested significant sums of money in the UK industry in recent years these have all tended to be overseas investors.”
The board at EFFP is currently looking at developing a ‘bespoke funding model’ for the agricultural industry and will operate as a broker between individual investors and business in the agri-food industry.