Ulster Bank delivers food and farming update ahead of 2025 Balmoral Show

With just four weeks to go until the 2025 Balmoral Show in partnership with Ulster Bank, the event was an opportunity for Ulster Bank to reaffirm its commitment to this industry and outline how it continues to support rural communities, foster innovation, and promote sustainability right across the local agrifood industry.

Held in conjunction with the Guild of Agricultural Journalists, the event was hosted by Ulster Bank’s Head of NI, Mark Crimmins, and Senior Agriculture Manager, Cormac McKervey, who opened the event with a sectorial update.

In his address, Cormac gave an overview of the current health of farm businesses across NI and provided insights into the various subsectors including dairy, beef, pork, poultry and grain. The session also explored evolving consumer trends, global market pressures and the new payments system which has been introduced here.

Cormac McKervey Senior Agriculture Manager, Ulster Bank said: “Generally speaking, farming is generating good returns and is in a relatively stable position. Margins are sufficient for milk, beef, lamb, pigs and poultry and while there is still room for improvement with arables, the situation is more positive than it has been in recent years. Land prices continue to rise, and the recent spell of good spring weather has eased the pressure on field work.

“Much of this positivity is being driven by strong consumer demand for locally produced food with today’s consumer placing more value on provenance than ever before. We are seeing a return to equilibrium when it comes to supply and demand and input prices, particularly animal feed, have fallen to below average prices. This buoyancy is also being reflected in bank borrowing and our message to farmers continues to be that we are open to lend and keen to support new businesses.

“That said, as we approach the 2025 Balmoral Show, there are still some lingering issues which will no doubt be at the forefront of any farmer’s mind. TB continues to severely impact some farms, not just financially, but also can have an adverse effect on a farmer’s mental health. Changes to the inheritance tax threshold which is scheduled to be enacted from April 2026 may also be causing some additional stress and anyone connected with the agrifood industry will be watching what is happening in terms of tariffs very carefully.

“Our message, however, is that we remain confident and are willing to support businesses in the sector as best we can, whether that’s through finance solutions, the expertise of our local team on the ground or with products offered by our partners throughout the NatWest Group.”

Also at the event, guests had an opportunity to learn more about Ulster Bank’s support for the emerging agri tech sector through the bank’s fully funded entrepreneur accelerator programme. John Ferris, who heads up the Belfast Accelerator, was joined on stage by two entrepreneurs who have successfully married their love of farming and tech to create Farm Drive – an app which aims to simplify farm development.

Founders Gareth McDonald and Gareth Gordon applied to join the Ulster Bank programme after a fortuitous conversation at the Balmoral Show. With access to one-on-one mentoring, peer support and development events throughout the year, they have grown their customer base significantly and are expanding into new markets, including the US. Before that, however, they will be exhibiting at this year’s Balmoral Show and encouraging farmers to improve their profitability, become more sustainable and introduce greater efficiencies by using the Farm Drive software.

Mark Crimmins, Head of NI, at Ulster Bank welcomed the opportunity to engage with the Agri Guild and to showcase the wide range of support options Ulster Bank had to offer this sector.

“Ulster Bank is very proud of our longstanding association with the Balmoral Show and while we are looking forward to the landmark event, it is by no means our only association with the agri-food sector which we recognise as being one of the key drivers of our local economy.

“From helping farm businesses embrace new technologies to financing their plans for growth, we have the tools and expertise to support businesses at all levels as demonstrated by Cormac and John at today’s event.”

To find out more about Ulster Bank’s support for agriculture businesses, visit www.ulsterbank.co.uk/agriculture

The Balmoral Show in partnership with Ulster Bank returns to Balmoral Park on Wednesday 14 May and runs until Saturday 17 May. Information about ticketing options, show opening hours and daily timetables can be found at www.balmoralshow.co.uk