France’s long-standing farm co-operatives will need to scale up further and build effective infrastructure to avoid being marginalised as niche players while global commodity giants broaden their footprint on international grain markets.

GREENCORE has been condemned as an asset-stripping “pack of vultures” by Fianna Fáil TD Seán Fleming, as the food group continued negotiations to sell its malting business to Soufflet Group of France.

GREENCORE Group confirmed yesterday that it has had a number of approaches that could lead to the sale of its international malt business.

GREENCORE, which has developed a major footprint in the convenience food sector in Britain, is likely to sell its malting business to the French Soufflet Group.