U.K. egg producer Nafferton Wold Farms Ltd secured a GBP1.9 million (US$2.4 million) investment from banking group NatWest to expand its facilities.
According to news outlet The Business Desk, the East Yorkshire-based producer plans to build a new free-range egg unit that will house 32,000 layers.
Currently, the company houses 62,800 layers at two farms: the Far West Free-Range Unit and the Wold Road Unit, that supply grocery stores.
On the investment, Nafferton Wold Farms Ltd. Director Richard John Dewhirst said, “With the recent increase in egg prices, we believe this investment will not only enhance our capacity but also contribute to the sustainability of our diversified farming operations.”
NatWest Relationship manager Philip Marshall stated, “This investment not only represents a positive step for the business but also underscores our commitment to assisting local agricultural enterprises in realizing their growth potential...”
Nafferton is a subsidiary of Dewhirst Farming Group, which produces eggs, pork and renewable energy, as well as wheat, barley and oilseed rape for animal feed.
Egg fairness in the UK is being investigated
In May 2023, the U.K.’s government agreed to examine fairness in its egg supply chains. CEO of the British Free Range Egg Producers’ Association (BFREPA) Robert Gooch is play an active part in the investigation, with hopes that it will lead to a more sustainable supply chain for the country and provide the confidence that egg farmers need to continue producing.
The investigation is looking into how profitability and risk are shared and monitored in the food supply chain.
On the announcement, Gooch said that producers had been trapped in an unfair cycle for years, with biased contracts and a large amount of risk. He added that the crisis in the egg industry over the last year was due to extremely high production costs with no increases in the prices paid to farmers.
The investigation is ongoing as of April 2024.
