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A €50m scheme to compensate beef farmers for losses due to coronavirus is on the way from Government,
A source has told the Irish Farmers Journal that Taoiseach Leo Varadkar and Minister for Agriculture Michael Creed will confirm a €50m package for farmers this afternoon.
The support package was discussed at Cabinet on Friday morning. It is aimed at beef farmers who have experienced significant difficulty arising from the economic impact of the COVID-19 pandemic.
“This brings to over €200 million in new funding the Minister has made available to beef Farmers over the past two years on top of existing schemes," the source said.
Market hit
Beef prices were hit hard when food service outlets across Ireland and Europe were closed in the lockdown, with markets for steak in particular hit badly.
While some fast food chains are now reopening, the huge volume of Irish beef that goes into burgers also meant a huge hit for the beef trade.
Factory supports
Meat processors were entitled to use government supports such as the Temporary Wage Subsidy Scheme (TWSS), and are expected to receive a multimillion support package. However, until now there was no indication that the same level of support was to be made available for farmers, as reported in this week's Irish Farmers Journal editorial.
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