asked the Minister for Industry and Commerce if his attention has been drawn to the drop in prices in the world grain market; and if he will ensure that the benefits from such a drop in prices will be passed to Irish feeders.
Ceisteanna—Questions. Oral Answers. - World Grain Prices.
65.
I am aware of recent reductions in world grain prices and I expect that these reductions will be reflected in the price of animal feedstuffs as soon as stocks purchased earlier at higher prices have been exhausted.
Under the system of monitoring price changes and profit margins in the feedstuffs industry, which was introduced following the removal of formal price control from the industry, a close scrutiny is being kept on prices to ensure that the benefits of any decrease in ingredient prices is passed on to the feeders in the shortest time possible.
Can the Minister give an assurance that the drop in prices will reflect on the price of consumer goods such as eggs and poultry?
A reduction is likely but it is hard to give categorical assurances of this nature.
Will the Minister keep an eye on this?