Proposed beef support scheme to be worth €50 million
A proposed support scheme to the tune of €50 million is to be put to the cabinet today, Friday, June 12, to aid beef farms following the economic effects of Covid-19, it is understood.
Minister for Agriculture, Food and the Marine Michael Creed will put forward the details of the proposed support scheme to Government at a cabinet meeting today.
The scheme will be targeted at farms which have been severely impacted by the economic effects of the Covid-19 pandemic. It is understood that the package will specifically target finishers.
The Covid-19 pandemic was a hammer blow for the beef sector, with prices falling sharply in recent months, primarily down to an effective collapse of the food-service industry across most countries.
News of the proposed package was lauded as a “welcome development”, according to the Irish Farmers’ Association (IFA).
However, IFA president Tim Cullinan said: “The details of the scheme and the small print will be important.
“I hope that this scheme will be worthwhile and straight-forward,” he said.
The IFA had made submissions to Government showing that beef finishers had lost over €20 million as a result of the Covid-19 price impact.
“The closure of the food-service sector across Europe really hit beef finishers and they badly need help to cover these losses,” the president added.