NEW research conducted by NFU Mutual has revealed that more farmers are planning to start diversifying activities.

The diversification investigation shows that the number of farmers planning to start diversifying in the next five years has risen to 17 per cent, up two per cent from 2023.Those already undertaking diversification enterprises plan to develop them further also, up three per cent on 2023’s findings.

On average farmers were accounting that 13 per cent of annual turnover comes from diversification enterprises, with renewable energy remaining the most popular form among those in UK agriculture. Again, climbing two per cent to eight per cent with those surveyed operating schemes such as solar power, wind turbines or anaerobic digesters.

Chris Walsh NFU Mutual farm specialist said: “From vineyards and wedding venues to solar farms and wind turbines, farmers are making the most of the resources available on their land to make their businesses more sustainable. For the vast majority of farmers, running a diversification business is a way of supporting their farming enterprise, as EU legacy Basic Payment Scheme (BPS) support is phased out.” he said.