ICSA CALLS FOR INVESTIGATION INTO WHY FACTORY PRICES ARE ALL EQUALLY LOW BUT MARTS TELL A DIFFERENT STORY

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17 DECEMBER 2020

ICSA beef chairman Edmund Graham has demanded that there should be an investigation into why factory prices are all equally low even though some factories are able to pay much more for cattle at marts. Mr Graham was addressing today’s (Thursday 17th) Beef Taskforce meeting.

“Some factories have markets which justify higher returns and this is evidenced by the prices paid at marts by factory agents. Yet prices quoted by factories for direct sales are all uniformly similar. This strongly suggests that there is no free competition in terms of factory prices.”

Mr Graham insisted that this was a matter for the Beef Taskforce to bring to the attention of the CCPC (Competition and Consumer Protection Commissioner). He repeatedly asked the meat industry representatives for a response but they refused.

“It is abundantly clear that some factories are in a position to pay 30-40c/kg more based on current demand for beef. We have seen UK price rocket ahead of Irish price this year and the evidence is that some factories are actively paying much more at mart rings than the quoted prices.”

ENDS