A €500 million boost to Irish beef production will help improve the country’s export-dependent sector, the Minister for Agriculture Simon Coveney said today.
The announcement was made during a visit to Co Mayo, the countrys largest cattle market.
The Government will allocate an additional €1.5 billion over five years to beef cattle production in Ireland. “
With a further increase of 5,000 tonnes of beef production, the beef sector will be able to continue to generate a significant amount of export revenue for the country and we are working with the industry to help meet this challenge.”
The Government will allocate an additional €1.5 billion over five years to beef cattle production in Ireland.
It is the first funding commitment in the country to beef producers in recent years.
Ireland is the fourth country in Europe to provide subsidies to beef farmers, following Italy, the Netherlands and Belgium.
The Government has also announced an additional funding commitment of up to €300 million over the next three years to promote beef farming in Ireland, which is the largest beef export market in Europe.
In its annual report to the Government, the Irish Meat and Poultry Industry Association said the Government has been a big help in boosting Irish beef exports and has helped beef producers to raise productivity and increase exports.
The beef industry in Ireland is one of the fastest growing in Europe, with annual growth of about 3 per cent since 2007.