As Irish beef price continues to fall, the gap between Irish beef price and the Bord Bia export benchmark price, currently at 19 cent/kg is further widening. IFA President Tim Cullinan is calling on meat factories to immediately address this gap which is costing the Irish livestock sector millions on a weekly basis.
“We estimate that the gap between the export benchmark price and the Irish beef price is costing the Irish beef farmers about €2m per week at the moment. This is at a time where farmers are really struggling due to bad weather and escalating costs,” Tim Cullinan said.
“Farmers need every cent that is in the market to be returned to them. But, instead closing the gap with the benchmark price, factories are going in the other direction with beef price,” he added.
While beef prices internationally are on a downward trend, the recent declines in Irish prices have been much steeper than what has occurred in other markets.
IFA Livestock Chair Brendan Golden reiterated the IFA President Tim Cullinan’s comments. “It’s about time factories started supporting farmers instead of short-changing them which is clearly the case at the moment,” Brendan Golden outlined.