Results of first BPEX confidence survey
Producers are taking a cautious view of the future according to the first confidence survey conducted by the British Pig Executive (BPEX).
However, the rest of the industry has a more positive outlook. These two figures between them give an indication of the likelihood of further investment over the next year.
Across the board, the main factor limiting investment was the potential return, though for producers lack of cash in the business and uncertainty about demand for pig meat were also important.
The survey also examined the quality of service provided by BPEX which came out showing the lowest score was satisfactory but the majority were good.
Overall, the industry is more optimistic about the financial future than a year ago but within that, processors are more optimistic than producers.
From the producer point of view, the numbers planning to invest to meet the demands of environmental legislation equalled the number seeking to increase capacity.
The results for capacity also showed retailers were running at 100% while producers were at 69% and processors at 62%.
BPEX chief executive, Mick Sloyan, said: "These are interesting results from a wide cross-section of the industry. The survey is in a similar format to the CBI confidence survey and we shall re-run it at regular intervals to build up a picture of the industry over time.
"In this one we are seeing manifestations of confidence in improving
performance from producers, particularly in pigs per sow per year.
"One of they key elements of the industry strategy Road to Recovery is to
improve industry confidence to invest and this survey, which we will be
repeating, is an important part of monitoring that."
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