McCain Foods and NatWest have come together to offer financial support to potato farmers who are transitioning to sustainable agricultural practices.
Natwest will offer financial support to McCain potato farmers, while the global food giant will also be contributing towards the interest for assets that support regenerative agriculture practices.
Sustainable farming is a key pillar of McCain’s commitment to implement regenerative agriculture across 100% of its global potato acreage by 2030. The transition to more sustainable farming practices often requires up-front investments in new equipment and practices from farmers, which can create a barrier to uptake.
Given the increasingly unpredictable climate, VP of agriculture at McCain James Young said “the shift towards regenerative agriculture practices is vital to futureproof the farming industry.
“We are working with our growers, customers and key stakeholders to ensure the long-term viability of potato growing in the UK,” he added.
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Ian Burrow, head of agriculture at NatWest commented: “Agriculture is a sector of paramount importance to the UK economy, and one which is at a turning point, facing higher costs, inflation and the daunting challenge of net zero.”
As part of its wider regenerative agriculture initiatives, McCain joined the Sustainable Markets Initiative (SMI) Agribusiness Task Force to accelerate the scaling of greener practices in the farming industry.
Other initiatives include grants for cover crop seed and fully funding soil health assessments, as well as offering free pollinator seed this spring.
McCain has invested £50 million since 2020 to ensure the long-term viability of potato growing in the UK. As part of this, in 2020, it launched the Potato Farmer Pledge, a £25 million investment designed to help ensure the long-term sustainability of British agriculture in the face of increasing climatic events such as droughts and floods.
McCain is also supporting farmers in the face of rising inflation by committing to a 31% contract indexation in 2023, equal to a £35 million investment.
