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Euro Surge Should Boost Farm Prices

by 5m Editor
17 March 2009, at 8:59am

NORTHERN IRELAND, UK - The Ulster Farmers’ Union has highlighted the recent surge in the value of the Euro against Sterling and has called on food processors to take full advantage of the competitive position which locally produced food now enjoys. The Euro surged in value this week to over 93 UK pence.


UFU President Graham Furey

UFU President Graham Furey said farmers would expect to see a rise in farm gate prices to reflect the very favourable currency conditions.

Mr Furey said: "As an exporting agri-food region, swings in currency have a very direct impact on our businesses. We were often told that farm gate prices were depressed because the pound was strong against the Euro, but now currency has swung very much in our favour and this advantage must be grasped."

Mr Furey added, "It seems currency has had a positive impact on some of our main sectors including beef, lamb and pork, but I remain very concerned that farm gate prices in the dairy sector remain at loss making levels. There is an onus on processors to be strong sellers and maximise the opportunities which are now available to market our produce in to the UK market and beyond at competitive levels."