Jackie Cahill
Question:479. Deputy Jackie Cahill asked the Minister for Agriculture, Food and the Marine if he will review the valuation of pedigree bulls (details supplied); and if he will make a statement on the matter. [21508/19]
View answerTuesday, 21 May 2019
Questions (479)
Written answers
The purpose of the On Farm Market Valuation Scheme (OFMV) is to provide that herdowners who suffer a TB breakdown are compensated for the market value of their animal. Under the terms of the scheme, "Market value will be the equivalent price which might reasonably have being obtained for the animal at the time of determination of compensation from a purchaser in the open market if the animal was not affected by TB or Brucellosis or was not being removed as part of a depopulation under the disease eradication programme."
The scheme therefore is not based on replacement value but on market value. This is determined by a valuation carried out by an independent valuer at which they consider the animal's breed, genetics, visual assessment and overall physical presentation with regard to locomotion, body condition and age. The value is then calculated taking all of this information into account as well as information collected from the market place by my Department and any relevant compensation ceilings as per the terms of the scheme.
The OFMV aims to ensure, through the principles of independent assessment, taking into account up to date market data from across the country, that herdowners receive an accurate market value for their TB reactors at the time of breakdown. In line with these principles, depreciation levels applied to purebred registered Bulls valued under the OFMV scheme are currently being reviewed on the basis of information from the market.