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”.

However, reports are suggesting that news on the support package has “driven the mart trade for store cattle upwards”.

On-the-ground views

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…