'Farmers are literally sick with worry'
FARM organisations have called for immediate clarity on how many marts and individual farmers are exposed to losses as a result of TLT International going into receivership.
All the main farm bodies expressed concern at the extent of the potential losses that the sector could face.
ICSA leader Gabriel Gilmartin called on the receiver, Gearóid Costelloe of Grant Thornton, to provide concrete information on TLT's financial position as soon as possible.
"There is reason to be anxious that the (receivership) process will result in losses for some marts and possibly for some individual farmers who do not deal through the marts," Mr Gilmartin said.
He said the manner in which TLT had gone into receivership reflected the "risk-averse" nature of the banking system at present.
"The live export trade is vital to the cattle and sheep sectors here, but the sector faces huge challenges given the difficulties in securing appropriate commitment in terms of long-term financing from the banking sector," Mr Gilmartin said.
Insisting that anything that undermined confidence and trust was bad for the cattle trade, Mr Gilmartin called on the Government to exert pressure on the Irish banks to ensure they supported any marts or farmers who had been exposed to potential losses by TLT's troubles.