Windfall bonanza for sheep farmers

The export ban which is costing the British meat industry €15m a week has led to a windfall bonanza for Irish sheep farmers, benefiting from shortages of lamb in France which have pushed wholesale prices in Paris up to more than €6 per kg.

Cattle farmers here have also benefited, due to 1,300 tonnes of British beef and veal disappearing from export markets.

The export ban could last three months after the last case of foot and mouth is confirmed. Or the EU and individual countries may start to relax bans once the incubation period of the virus — up to 14 days — is over.

The EU Standing Committee on the Food Chain and Animal Health will review export restrictions on August 23.

Meanwhile, not even Brazilian beef is likely to ease EU beef market scarcities. In the South American country, beef cattle prices have hit record highs. Reduced supply and Argentina’s beef export restrictions have forced some meat plants to shut temporarily and lay off employees.