Ulster Bank delivers farming sector update ahead of 2025 Balmoral Show

Ahead the 2025 Balmoral Show, Ulster Bank hosted its annual pre-show breakfast briefing, bringing together farmers, agri-food leaders, and policymakers to share insights and reinforce the bank’s long-standing commitment to the agricultural sector.

Held in partnership with the Guild of Agricultural Journalists, the event took place at Ulster Bank’s Belfast headquarters and was led by the bank’s Head of Northern Ireland, Mark Crimmins, alongside Senior Agriculture Manager, Cormac McKervey.

The session served as both a pulse check on the health of the industry and a platform to explore new opportunities in farming and food production.

Strong Returns and Renewed Confidence

Cormac McKervey, Senior Agriculture Manager, Ulster Bank, delivers his annual farming update ahead of the 2025 Balmoral Show in partnership with Ulster Bank

Opening the event, Cormac McKervey provided a detailed sectoral update, offering a comprehensive overview of the state of NI farm businesses across dairy, beef, pork, poultry, and grain. Despite ongoing global pressures, he noted a generally positive outlook.

“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,” he said.

McKervey pointed to a combination of favourable market conditions and improved weather as key factors easing pressure on producers. “Land prices continue to rise, and the recent spell of good spring weather has eased the pressure on field work,” he added.

Consumer behaviour is also playing a pivotal role in the industry’s momentum. “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,” McKervey explained.

Open for Lending, Committed to Innovation

Encouragingly, McKervey noted a decline in input costs, especially in feed prices, and a buoyant outlook in borrowing and lending. “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.”

However, he acknowledged persistent challenges.

“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.”

Despite these pressures, McKervey reiterated Ulster Bank’s commitment to the sector:

“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.”

Spotlight on Agri-Tech Innovation

John Ferris, Regional Ecosystem Manager, Ulster Bank, speaks to Gareth McDonald and Gareth Gordon, Co-Founders of livestock management app, Farm Drive

The event also provided a platform to highlight the bank’s support for agri-tech innovation through its Belfast-based Entrepreneur Accelerator. John Ferris, who heads the programme, introduced Gareth McDonald and Gareth Gordon, the co-founders of Farm Drive—a farm management app born from a chance meeting at a previous Balmoral Show.

Through their participation in the accelerator, the duo accessed one-on-one mentoring, peer collaboration and developmental support. Their technology is now reaching new markets, including the US, as they continue to promote smarter, more efficient farm development.

Farm Drive will feature at this year’s Balmoral Show, where the founders hope to inspire farmers to “improve their profitability, become more sustainable and introduce greater efficiencies.”

A Pledge to the Agri-Food Sector

Rebecca McConnell, Chair of the Guild of Agricultural Journalists, Mark Crimmins, Head of Ulster Bank NI and John Henning OBE, RUAS President

Mark Crimmins, Head of NI at Ulster Bank, closed the session by reaffirming the bank’s dedication to supporting the agri-food economy.

“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,” he said.

“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.”

Looking Ahead to Balmoral Show 2025

The 2025 Balmoral Show, in partnership with Ulster Bank, will take place from Wednesday 14th to Saturday 17th May at Balmoral Park. With thousands expected to attend, the event remains the premier showcase for Northern Ireland’s farming excellence and rural innovation.

For more on Ulster Bank’s agricultural support services, visit www.ulsterbank.co.uk/agriculture. For ticketing and schedule details for the Balmoral Show, visit www.balmoralshow.co.uk.