Lamb prices rising due to ‘substantial demand’

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Lamb prices are continuing to rise, driven by substantial demand for the Muslim festival of Eid al-Adha, according to the Irish Farmers’ Association (IFA).

Sean Dennehy, the association’s national sheep chairperson, said that, with the Muslim festival set to begin on July 30, factories have increased quoted prices and paid prices this week to get lambs.

“Prices are ranging from €5.65/kg to €5.75/kg, with top prices of €5.80/kg paid. Farmer are also negotiating on weights up to 21.5kg,” Dennehy said.

“Some factories are talking to suppliers and groups, trying to pin down numbers and supplies right up to early August to be able to service the demand for Eid,” Dennehy added.

He pointed out: “Also, the lower volume of New Zealand imports in the UK and across the EU has left the market short.”

 

 

agriland

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