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BANKING SECTOR MUST SHOW FLEXIBILITY DURING CURRENT BEEF DIFFICULTIES

Aug 26, 2019 | Latest News, Press Releases | 0 comments

21 AUGUST 2019

ICSA suckler chair John Halley has urged banks to be open-minded and flexible when it comes to dealing with beef and suckler farmers during these challenging times. “The BEAM scheme has opened for applications, but payments are not expected until mid-October. In the interim, weanling prices remain challenged and bills remain outstanding,” he said.

“There is currently an overhang of debt surrounding suckler and beef farmers. A perfect storm of pressures over the last number of years has seen the sector struggle more than ever before, and we’re not out of the woods yet. Support is needed from all angles and the banks have an important role to play at this time.”

Mr Halley has urged Minister Creed to similarly encourage banks offer flexibility during these difficult times for beef and suckler farmers. “The beef sector is too important to the Irish economy to be allowed to go under. We’ve been seeking more solidarity from processors and the beef talks have resulted in some minor gains but not enough to have any real financial benefit for the primary producer. It remains our priority to put a stop to excessive profiteering further along the food chain and to seek our fair share of the final retail price. However, it is vital that we have a commitment from the banking sector that support and a flexible approach will be forthcoming.”

ENDS

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