Bord Bia is set to produce a paper outlining the potential development of a beef market price index model, by the end of this month (August).
The confirmation comes following day two of the multi-stakeholder round-table talks that were taking place yesterday, Monday, August 19, in Co. Kildare.
Stakeholders at the meeting also agreed on the need for greater transparency all along the beef supply chain.
The requirement for an independent grocery regulator was also agreed on yesterday by the stakeholders.
This will be considered as part of the public consultation process, following the discussions.
Following the Unfair Trading Practices Directive that was finalised earlier this year, a working group has been established between the Department of Agriculture, Food and the Marine and the Department of Business, Enterprise and Innovation.
A consultation process will be launched in September on the directive and the working group will report by the end of 2019.
The Department of Agriculture has agreed to engage with any interested potential producer organisations to provide guidance on the application process.
Finally, in relation to live exports, all stakeholders at the meeting were in agreement that live exports are a critical part of the industry and that there should be a continued strategic focus on this area.