Dáil Éireann Debate, Thursday - 1 June 2023
271. Deputy Alan Dillon asked the Minister for Agriculture, Food and the Marine if his Department has conducted an assessment of the impact of imported beef on Irish beef prices in each of the past four months to date; if so, the findings of this assessment; if there are significant price fluctuations; if so, how are they attributed to the imported beef; and if he will make a statement on the matter. [26846/23]
View answerThe nature of all commodity markets is that prices fluctuate and international trade flows are a two-way process. As the Irish beef sector is highly export oriented, its success is dependent on the maintenance of an open, rules-based multilateral trading system.
The latest CSO trade data for the four months to date shows that beef imports amounted to 7% of Irish beef exports in volume terms but only 6 percent in value terms.*
To ensure transparency for all sector stakeholders, the EU Commission, my Department and Bord Bia publish online data on a range of beef price indicators.
According to my Department’s weekly Meat Market Report, the deadweight price of Irish R3 steers was €5.24/kg (excluding VAT) for the week ending 21st May (week 20) and the price for the grade has been relatively stable since the beginning of February (week five).
Bord Bia data tracking the prime Irish composite price against the prime export benchmark price which shows that the Irish price is currently 28c/kg above the benchmark price. In effect, this comparative data means that Irish beef prices are above the levels prevailing in our main European export markets making the domestic market attractive to trading partners.
In this context, the prime Irish composite price refers to the average price paid for prime beef animals (i.e. steers, young bulls and heifers) slaughtered weekly in Ireland based on the annual kill share for those categories and the main carcase grades. The prime export benchmark reflects the prices paid for prime cattle in different carcase categories and grades and is weighted according to the relative importance of key export markets for Irish beef - specifically, the UK, France, Italy, Germany, Netherlands and Sweden - where Irish exporters must compete with other European and international suppliers.
The relevant Bord Bia data can be accessed at the following link: Beef Market Tracking - Bord Bia | Irish Food Board (www.bordbia.ie/farmers-growers/prices-markets/cattle-trade-prices/beef-market-tracking/)
* The volume of beef imports for 2022 and 2023 was revised down following an error identified by the CSO. The amended data requested by the Deputy is provided below. There have also been slight changes to the methodology used to compile the data. While in the original reply only data for the first three months was available, the four months as requested is now provided.
