The £2.15 million project, which is funded through the EU Transition Fund and will be delivered by Hybu Cig Cymru (HCC) with support from Farming Connect, aims to work with Welsh beef and sheep farmers to benchmark their data and help identify improvements in their businesses.

The voluntary scheme is open to 2,000 eligible beef and sheep farmers until 10^th December on a first come first served basis. Farmers will be asked to complete an online questionnaire on the financial and physical details of their business. In return they will receive a detailed benchmarking report of their business, evaluating their performance against others within the sector, along with £1,000 compensation for their time and effort.

NFU Cymru Livestock Board Chairman Wyn Evans said: “NFU Cymru welcomes the announcement of this red meat benchmarking scheme and the Union is encouraging farmers across Wales to participate in the programme. NFU Cymru has been assured that all data supplied as part of the project will be totally confidential and anonymous.

“As we approach Brexit and with market competition looking set to increase, collecting accurate data will play an increasingly important role in the success of farming businesses across Wales. With £1,000 compensation available to farmers participating in the scheme, we believe this programme holds numerous benefits for those taking part, not least the individual benchmarking report that will help increase farmers’ understanding of the financial and technical performance of their business.”

For further information please visit www.meatpromotion.wales