BSF Industry Report
Nuffield Farming Scholarships - Black Soldier Fly Farming
Over the past year, I’ve travelled across 14 countries and visited over 50 black soldier fly (BSF) companies as part of my Nuffield Farming Scholarship. From the soybean fields of Brazil to modular farms in Kenya, from high-tech factories in Denmark to frass-focused compost systems in Rwanda — I’ve seen the good, the bad, and the baffling.
And now, the report is finally finished.
What this report is (and isn’t)
It’s not a technical manual.
It’s not a vision of the distant future.
It’s not another piece of promotional fluff about how insects will "save the planet."
It’s not designed to sell the idea of BSF farming.
Instead, it’s a ground-level assessment of how BSF farming is actually working — and why some models succeed while others stall. It’s full of practical observations from around the globe, critical questions, and examples from real businesses doing great (and not-so-great) things.
BSF ideas I explore
1. Profit > hype
The Blended Substitute Value Ratio (BSVR) is an attempt (with credit to Michael Badeski) to ask one simple question: does the model make money? Too few are asking this super-simple question. I think it’s time we put more focus on profit.
2. Context is everything
The BSF system that works in Nairobi won’t work in Norfolk. Climate, regulation, feedstock access, offtake opportunity and labour all shift the economics. We need to design insect systems to suit their surroundings, not force one model into every corner of the world.
3. We don’t yet know what is the most valuable revenue stream
Protein seems to be the main character in this industry, however regulations and price competition makes protein one of the more difficult outputs to monetise effectively. Frass, oil, gate fees and carbon credits all play a part, with potential developments in the micronutrition such as chitin playing a part in the future.
4. Local circularity is the long term play
Building a BSF farm to create outputs are exposed to international competition in the long run. However, processing waste can not be exported, so domestically, you can build your moat through solving local waste and nutrient recycling problems. the outputs from this model solve less problems than the processing of the input.
5. The UK needs to catch up
Right now, UK regulations — particularly around feedstocks and livestock classifications — are blocking profitability before BSF systems even get started. We can fix this, but it’ll take policy courage and industry alignment.
6. Collaboration trumps protectionism
This industry’s too young to start guarding secrets. The best conversations I had were with founders, operators and researchers who shared openly, built partnerships, and focused on making the industry better — not just bigger.
Want to go deeper?
This blog is part of a series. You can also read:
If you read the report and have feedback — especially if you disagree — I’d genuinely love to hear it.
You can email me at david@fly2feed.com or reach out on LinkedIn.
