IFA secures ongoing collection of controversial levies from some processors
Negotiations are still ongoing with beef processors over the collection of levies as the IFA seeks to shore up its finances.
A multi-million euro boost in the asset value of FBD shares has helped offset the drop-off in reserve funds, association’s AGM will hear.
Just short of €3.2m was paid in levies up to March 2018, a substantial fall from the €4.7m collected before the association was hit by the fallout from a pay scandal in 2015.
Formal agreements have now been finalised with dairy processors for the ongoing collection of the levy.
And it is understood that agreement has also been finalised with the Dawn Meats Group for collection of the levy and talks are at an advanced stage with the Kepak Group.
However, it is believed the relationship between the IFA and ABP remain strained and the collection of the levy by the processor remains suspended.
The IFA moved in 2016 to suspend the levy collection by ABP factories that was worth hundreds of thousands of euro. It came after the Goodman-group informed the IFA of plans to introduce an ‘opt-in’ model for farmers who wished to continue to pay the levies.
Total income for the year has shown a slight increase with marginal recovery in the commodity levies which suffered heavily in the aftermath of the crisis in November 2015.