LONDON, March 31 (Reuters) - British supermarket group Sainsbury's will back more than 2,500 UK farms with long‑term contracts by 2027, representing over 5 billion pounds ($6.60 billion) of committed
Sainsbury's Invests £5 Billion in Long-Term UK Farming Partnerships
Sainsbury's Commitment to UK Farming and Supply Security
LONDON, March 31 (Reuters) - British supermarket group Sainsbury's will back more than 2,500 UK farms with long‑term contracts by 2027, representing over 5 billion pounds ($6.60 billion) of committed investment, it said on Tuesday.
Securing Key Products and Supporting Farmers
Sainsbury's said the expanded model will secure key products, including milk, carrots, mushrooms and chicken, providing security of supply at a time when operating costs, climate pressures and global instability continue to impact farmers.
Expansion of Long-Term Partnerships
- On Tuesday, Sainsbury's expanded its long-term partnership model to 62 British berry farms, agreeing five new five-year contracts with Angus Soft Fruit, Chambers, Soft Fruits Direct, J.O. Sims and Dyson Farming.
Existing and Future Commitments
- Similar commitments are already in place across categories including pork, poultry and dairy.
- By the end of 2026, 60% of Sainsbury's own brand suppliers of fresh produce, dairy, meat, fish and poultry will be in long-term agreements of over five years.
Sainsbury's Market Position
- Sainsbury's has a UK grocery market share of 15.6% and is Britain's second largest supermarket group after Tesco.
Currency Exchange Rate
- ($1 = 0.7579 pounds)
(Reporting by James Davey)
