The Department of Agriculture will have until the end of July to design the terms and conditions of the €100m Brexit beef fund scheme.
On Thursday EU member states agreed to the European Commission’s proposal to make €50m available to Irish beef farmers to cope with losses sustained as a result of Brexit uncertainty. This money is to be matched by the Irish Government, bringing the fund to €100m.
Now that member states have given the green light to the fund, once it is formally adopted by the Commission early next month, Ireland will have until the end of July to design the criteria within a set framework for granting the aid.
They must avoid the distortion of competition when distributing it, a Commission spokesperson said.
Uncertainty around the withdrawal of the United Kingdom is putting downward pressure on prices
“One of the key objectives should be to ensure the beef and veal sector's long-term viability through, for example, the development of new markets, the implementation of quality schemes, or the improvement of farmers' environmental sustainability.
“Ireland's beef and veal sector is both large and hugely dependent on exports. Five of every six tonnes of beef produced is exported and almost 50% of these exports are to the United Kingdom. Uncertainty around the withdrawal of the United Kingdom is putting downward pressure on prices, deteriorating further the situation of beef producers in Ireland,” the spokesperson said.
Exceptional measure
This exceptional measure, provided under the Common Market Organisation of the Common Agricultural Policy (CAP), will offer support to the Irish farmers affected.
Due to the drop in prices, with a fall in margins estimated at 11-19% in the past year for the beef and veal sector, the Irish Government has calculated that beef farmers have lost just over €100m.
Agriculture and Rural Development Commissioner Phil Hogan said: “This fund is a recognition by the European Commission of the particular difficulties experienced by Irish beef farmers arising from significant prices falls and market uncertainty.
“The money made available by the EU, which may be matched by the Irish Government, will protect a fragile but essential agricultural sector. Moreover, it will provide direct support to hard-hit farmers and will ensure the long-term viability of the Irish beef sector. The Commission will continue to monitor closely the overall market situation.”
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The Department of Agriculture will have until the end of July to design the terms and conditions of the €100m Brexit beef fund scheme.
On Thursday EU member states agreed to the European Commission’s proposal to make €50m available to Irish beef farmers to cope with losses sustained as a result of Brexit uncertainty. This money is to be matched by the Irish Government, bringing the fund to €100m.
Now that member states have given the green light to the fund, once it is formally adopted by the Commission early next month, Ireland will have until the end of July to design the criteria within a set framework for granting the aid.
They must avoid the distortion of competition when distributing it, a Commission spokesperson said.
Uncertainty around the withdrawal of the United Kingdom is putting downward pressure on prices
“One of the key objectives should be to ensure the beef and veal sector's long-term viability through, for example, the development of new markets, the implementation of quality schemes, or the improvement of farmers' environmental sustainability.
“Ireland's beef and veal sector is both large and hugely dependent on exports. Five of every six tonnes of beef produced is exported and almost 50% of these exports are to the United Kingdom. Uncertainty around the withdrawal of the United Kingdom is putting downward pressure on prices, deteriorating further the situation of beef producers in Ireland,” the spokesperson said.
Exceptional measure
This exceptional measure, provided under the Common Market Organisation of the Common Agricultural Policy (CAP), will offer support to the Irish farmers affected.
Due to the drop in prices, with a fall in margins estimated at 11-19% in the past year for the beef and veal sector, the Irish Government has calculated that beef farmers have lost just over €100m.
Agriculture and Rural Development Commissioner Phil Hogan said: “This fund is a recognition by the European Commission of the particular difficulties experienced by Irish beef farmers arising from significant prices falls and market uncertainty.
“The money made available by the EU, which may be matched by the Irish Government, will protect a fragile but essential agricultural sector. Moreover, it will provide direct support to hard-hit farmers and will ensure the long-term viability of the Irish beef sector. The Commission will continue to monitor closely the overall market situation.”
Read more
Weanling prices fell up to €97/head from Brexit uncertainty
'We can deal with supply reduction' in €100m beef fund
Cull cows and IFA levy debated during €100m beef package event
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