Last month I met representatives of the principal retail multiples to discuss growing concern among consumers at the perceived failure of the retail trade to reduce the price of meat on the shelves to reflect the historically low prices paid to farmers. I made clear the Government's concern and stressed that profiteering at any point in the supply chain, either at retail level or at the processing stage, would be wholly unacceptable to me as Minister of State with responsibility for consumer affairs. I also made it clear that the multiples must move quickly to restore consumer confidence in the value they are getting for meat and demonstrate that prices in the shops reflect the reduction at farm-gate level.
The representatives whom I met pointed out that prices had come down to some extent and some envisaged further reductions. I said that I would be monitoring the situation to see tangible proof that prices were on the way down. I am pleased to note that food prices decreased in October due, inter alia, to falling beef, lamb and pork prices.
It is Government policy to encourage competition and promote greater price awareness among consumers. I have drawn the attention of the Director of Competition Enforcement to a recent debate in this House on the issue of food prices and have asked him to take such action as he considers appropriate. I encourage consumers to be aware of competing prices and make the market work by making informed purchasing choices.
I have conveyed my views on the role of the processing sector to my colleague, the Minister for Agriculture and Food, and I am awaiting a response from him.