11/12/2008

Compensation Deal For Pig Processors Agreed

The Government and the pigmeat processing industry reached an agreement last night on a rescue package for the industry.

A sum of €180 million has been ear marked for a compensation package for pig processors.

Slaughtering of pig stocks had been put on hold until resolution was achieved over the compensation payment, and is now expected to resume at the weekend.

Announcing the package, the Minister for Agriculture Brendan Smith said he hoped slaughtering resumed very quickly and the thousands of jobs compromised in recent days can now be secured.

"I know well the anxiety felt by pig farmers throughout the country over the past week and I hope that this morning's news will ease their anxieties and concerns,” he said.

"I want also to thank An Taoiseach for his commitment, since the weekend to the process, which we have just concluded, and for the time and effort he has put in to securing the agreement reached this morning."

The Minister described the crisis as the single biggest ever faced by the Irish pigmeat sector.

(DW)

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