Cattle exports hit as Garavelli firm folds
Exports of live cattle from Ireland to Italy are expected to take a major hit as a result of TLT International going into receivership.
The development of the live trade to Italy for top quality weanlings was closely associated with the Garavelli brothers, Paolo and Davide, who owned TLT International.
The company accounted for close to 70pc of the 37,155 cattle that were exported to Italy last year.
Exports of live cattle from Ireland to Italy have declined significantly in recent years. This was mainly as a result of higher cattle prices in Ireland, which meant our cattle were less price-competitive for live export.
The economic recession in Italy has impacted significantly on consumer demand for beef and this has undermined the market for top quality stock.
Around 70,000 cattle were exported to Italy in 2010 but just 23,000 have been shipped to the country from Ireland this year.
Industry sources said the hole in the market left by TLT's exit was unlikely to be taken up by other exporters.
One live shipper contacted by the Farming Independent said the current economic uncertainty in Italy made it a very difficult market.