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All news / Greek Exit Spells Danger for French Beef

  • 13 Jul 2015, 11:36

A Greek exit from the Eurozone could damage French beef exports, warns an industry leader.France is the leading supplier of beef to Greece but being ousted from the euro zone lead to a collapse in Greek demand, said Dominque Langlois, President of meat industry board, Interbev.

After Italy, Mr Langlois said Greek was France’s biggest market.

“The French beef industry remains at the mercy of current developments in that country,” he told Irish Food Bord, Board Bia.

He noted that downward pressure was being felt on beef prices across major European markets as a result of ongoing fiscal negotiations between Greece and the EU.

The Minister for Agriculture, Stéphane Le Foll, met representatives of the French meat industry on 17th June, to try to find a solution to the crisis in the sector, aggravated by the 3 day farmer blockade of the 17 most important beef abattoirs across the country, said Bord Bia.

Talks agreed on a gradual increase in the prices paid to producers of 5 cents per kilo per week to around €4.50/kg, said a Bord Bia spokesperson.

“Two weeks later, factory prices have shown little change, increasing by only 1 and 2 cents respectively to reach €3.72/kg. A Greek exit would further exacerbate an already difficult French market situation, with a potential knock on effect on key French beef suppliers.”