Dynamic Agri-food Sector Backed By Northern

The importance of NI's agri-food industry in the overall economy has been again underlined today with news from one of the biggest local banks that the outlook for the agricultural sector is positive in 2011.

John Henning, the Head of Agriculture at the Northern Bank, told a group of visiting journalists that in spite of various challenges, the outlook remains bright: "The agri-food industry will be a significant influence in NI's economic recovery," he said.

Quoting figures from a survey carried out at the Northern-sponsored Winter Fair at Balmoral in December, he said that most of the trade exhibitors said they were positive about the future prospects for the industry in 2011.

"Around one fifth were 'neutral' but the overwhelming majority (80%) said that while 2010 had been merely 'similar' in business terms to the previous year, they expected this year to be a much better prospect," he said.

Many challenges remain however and he said: "Feed and fuel costs for the farmer, interest rates and the growing power of the retailers will all have a negative impact as well as uncertainty over the common agricultural policy (CAP) reform in Europe."

Overall though, he said that farmers - and the agri-food industry itself - would be a positive influence in the economic development of NI.

It was also noted at the meeting that the bank's most senior executive continues to play his own role in the economy.

Last summer, the NI Enterprise Minister Arlene Foster, convened her then newly established Economic Advisory Group and said that it had been set up to create a focused group of experts, from economics and business.

Northern Bank Chief Executive, Gerry Mallon is on that panel, which the Minister said: "Contributes to the development of an Economic Strategy and has a key role in informing the Department of Enterprise, Trade and Investment's (DETI) contribution to the next NI Executive Programme for Government."

The Stormont Agriculture Minister, Michelle Gildernew has also highlighted the sector's vital role in the economy.

Last October she specificaly backed innovation in the food sector: "We want our industry to make the most of the latest ideas, techniques and working practices it needs to succeed in today's very competitive environment," she said, addressing the inaugural Department of Agriculture 'Evidence and Innovation' event at Loughry College and also responded to the findings of the 'Value of Food and Drink Industry to Northern Ireland' report, giving it a very warm welcome.

See: International Target For Food Sector

See: NI Food Industry 'Bucks Recessionary Trend'

(BMcC/GK)