Andrew Doyle (Wicklow, Fine Gael) | Oireachtas source

As is increasing production. It all hinges on that. Let us be honest; that is the key. The question also arises of who will pay for it. The CEO of the Irish Dairy Board said a couple of years ago that the investment cost of increasing capacity would be €850 million.

In the context of volatility, reference was made to hedge funds and Government support. This might not be possible, but is there merit in a global sense in discontinuing the practice of allowing food commodities to be traded in hedge funds? I ask the question innocently. Food security worldwide is of the utmost importance. Mr. Gill from Bloxham’s has always decried the fact that such a valuable resource could be traded through hedge funds. It is sinful that this is the case because, whatever way it works in terms of short selling, it does not make any sense to allow food commodities to be part of the hedge fund system. There is an argument to be made in that regard from a food security point of view, whether the discussion is held at WTO level or in another forum. We could consider recommending Government assistance or interaction in the area.