The announcement of a €100 million beef support package by the European Commission has been hugely welcomed by those in the beef sector; however, it has raised some uncertainty also.
As was revealed by AgriLand on Wednesday night, the European Commission has agreed to a fund of €50 million, while the Irish Government is also expected to match this figure – bringing the total amount to €100 million.
AgriLand understands that the package will be co-funded by the Department of Agriculture, Food and the Marine – which will fund €15 million – and the Department of Finance – which will fund the remaining €35 million.Also Read: €100 million support fund for beef farmers ‘secured in Brussels’
Details on how the support package will be allocated have yet to be confirmed but a Government source has informed AgriLand that “the funding must be delivered in a manner that does not distort the current beef market or cattle trade”.
Since the story broke, a number of farmers and lobby groups have welcomed the fund; however, some believe that €100 million could be put to better use in an effort to “save the industry”.
One particular farmer said: “When the money is divided among all farmers who brought cattle to the factory last year, they still won’t be happy – so why not use the money to develop an exclusive brand for Irish beef?”
Stay tuned to AgriLand for more updates on this story…