Weak sterling affecting agri-food jobs

Updated: 11:01, Tuesday, 28 September 2010

The IFA estimates that 10,000 jobs have been lost in the agri-food sector this year because of the weakness of sterling.

1 of 1 Sterling Undermining Irish exports
Sterling
Undermining Irish exports

The IFA estimates that 10,000 jobs have been lost in the agri-food sector this year because of the depreciation of sterling against the euro.

The association says the stark impact of the devaluation of the pound is also being felt on every farm here this winter.

Agri-business leaders and farm groups have, for some time, being criticising what they say is a 30% depreciation of sterling against the euro over the past year.

40% of Irish food exports go to the UK and the currency change is costing Irish exporters dearly.

The IFA says the deliberate policy of the British government to weaken sterling is undermining Irish exports, and that devaluations like this were not supposed to happen in the Single European Market.

IFA president Padraig Walshe said that at EU level, the Government must seek a solution to this internal EU currency problem which, he said, is especially damaging to Ireland.

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