Galway East TD and Minister for Rural Affairs Seán Canney has strongly welcomed news that the European Commission has agreed an exceptional aid fund for Irish beef farmers.
The fund is to compensate farmers for the fall in beef prices as a result of Brexit uncertainty.
Ireland will be allowed to top up the fund to bring it up to €100 million.
Minister Canney said: “This is very important and welcome news for our farmers. The IFA has reported that some of its members were facing financial ruin as a result of falling prices, sterling weakness and market uncertainty since the Brexit vote.
“The beef industry is the lifeblood of rural Ireland. The IFA estimated losses at €101 million..
“I discussed the issue with EU Agriculture Commissioner Phil Hogan when I was in Brussels recently and I have also discussed the issue with the President of the IFA Joe Healy.
“I have been assisting the Minister for Agriculture Michael Creed in making the case for our beef farmers at national and EU level and I am very pleased at this outcome.”