Parties close in on malting deal
Greencore and the IFA have reached an agreement in principle on a package of compensation payments for malting growers.
After tense negotiations, it is understood that an announcement is imminent on the level of compensation to each farmer.
Around 500 malting growers lost their malting contracts with Greencore prior to the sale of the Greencore Malt to French co-op Axereal in March.
The final level of compensation is to be ratified by the board of Greencore in the coming weeks.
The parties would not be drawn on the payment to be made to those growers who lost their contracts.
However, once ratified, it is understood that the process of distributing compensation to growers on a contract tonnage basis will begin immediately.
It is expected that farmers will receive payment within a period of weeks, rather than months.
Greencore's decision to cut malting contracts this spring sparked furious opposition from angry growers, who said the manner in which the decision was taken was unfair and lacked transparency.