Dáil Éireann debate -
Tuesday, 4 Feb 1997

Vol. 474 No. 3

Written Answers. - Beef Intervention Tenders.

Joe Walsh

Question:

272 Mr. J. Walsh asked the Minister for Agriculture, Food and Forestry the price drop in pence per lb which has resulted from beef processors recently tendering for intervention at up to four ECU below the EU average market price. [3069/97]

Minister for Agriculture, Food and Forestry (Mr. Yates)

I presume the Deputy is referring to the beef intervention tender of 14 January 1997.

Tenders received on that date amounted to 5,007 tonnes at prices ranging from 253.01 ecu to 252.5 ecu. For tenders to be considered for intervention they must be under the reported market price for the prior week plus a processors margin of 14 ecu. The reported market price for that week was 244.7 ecu per 100 kg. This would have allowed for tenders up to 285.7 ecu per 100 kg. to be considered for intervention at the adjudication in the beef management committee meeting on 17 January 1997.

Because of the difficult market situation in Ireland the Commission proposed that all tenders for steers under 253.01 ecu should be accepted in full with those over that level subject to a 25 per cent co-efficient. The effect of the decision by the committee to accept the full Irish offer was to improve cattle prices as traders competed for cattle supplies to fill the tender.