Speaking at Iverk Show in Kilkenny on Saturday, Healy said that October’s budget should include new lower-cost loan products for farming through the SBCI, to fund ongoing working capital requirements and on-farm investment.

Other measures listed by the IFA president include the Government making the case for an increase in EU state aid limits to allow increased scope for support to affected sectors as well as direct support at an EU level for the mushroom sector.

With 40% of Irish agri-food exports going to the UK, the industry is significantly affected by reduced competitiveness due to sterling devaluation.

The euro hit its strongest level against sterling since 2009 this week, rising above 92p. Uncertainty surround Brexit negotiations has led many analysts to suggest that continued weakening of sterling is likely.

Beef

“The meat factories have been more than passing back any cost of devaluations to farmers. The beef price in the UK Is the equivalent of €4.36/kg including VAT while factories are quoting €3.80/3.85/kg here,” Healy said.

He called on Minister for Agriculture Michael Creed to ensure that there is competition in the beef trade and that returns are fairly passed back to farmers.

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Support needed against sterling devaluation – Healy

The Government needs to provide support to Irish farmers against the effects of continued devaluation of sterling against the euro, IFA president Joe Healy has said.