asked the Minister for Industry and Commerce if he is aware that soya beans were being offered for sale last week at £280 per ton, an increase of about £100 per ton in one week, when the normal imported price is £80-£90 per ton; and the steps he is taking to stop the increase in the price of soya beans.
Ceisteanna—Questions. Oral Answers. - Soya Beans Price.
69.
All supplies of soya beans are imported and the information available to me indicates that the present world market price for this commodity is £250 a ton or more. I understand that the present high price is due to the world scarcity of soya beans and to the recent controls on exports imposed by the US Government. Increases in import prices are, of course, outside my control.
The Prices (Stabilisation of Profit Margins of Importers and Wholesalers), Order, 1973, made by me on the 26th June, 1973, controls the margin of profit on soya beans which may be taken by the importers.
Is the Minister aware that one firm had an increase of an extra £100 per ton in one week?
The Deputy will be aware that the announcement of the restriction on US exports is a matter of some three weeks. Because of the switching off of the supply to livestock producers throughout the world, this has produced rather explosive rises. There is some evidence that there is the beginning of a rethinking of policy in the United States. For the sake of Irish livestock food, particularly that containing soya bean meal, I hope this rethinking continues. The Deputy is aware that there have been representations made at Community level to the United States Government in this regard.
I understand there has been diplomatic pressure. Can the Minister state if the Government have made any representations to have more soya beans released or to see if the price can be reduced?
We cannot make representations with regard to prices because they are not settled by the supplier but by the supply and demand situation on the market. While we participated in the representation at Community level, we did not make representations at national level. The Deputy has made a useful point and I shall raise the matter with the Minister for Foreign Affairs that, as a livestock producing country, this decision by the US bears very heavily on us and we think it should be reversed.
Have the Department made any inquiries regarding other possible sources of vegetable protein?
I have been indicating my own thoughts to the Deputy. However, his last question—with which I agree in substance—is better directed to the Minister for Foreign Affairs. His current question would be better directed to the Minister for Agriculture and Fisheries.