The Irish Meat Association has said that the increase in EU export refunds announced in Brussels yesterday would only offset the 7.5 per cent drop in the value of the dollar as beef markets continue to fall, writes Sean MacConnell.
The Minister for Agriculture, Mr Walsh, said export refund increases on beef and live cattle were worth 5p per pound to producers and he urged processors to pass the increase on. However, last night, Mr John Smith, of the IMA, which represents beef processors, said Mr Walsh's statement clearly did not mention other decisions made in Brussels.
"The EU Beef Management Committee decided to sell 10,000 tonnes of beef from intervention to Russia at a price of 23p per lb and to put an extra 74,000 tonnes on offer for that market is now a clear indication the Commission is now competing against commercial beef on the Russian market. This poses a major problem for Ireland."