Charlie McConalogue (Donegal, Fianna Fail) | Oireachtas source

I thank Dr. Hanrahan and Mr. Donnellan for their comprehensive presentations. Many of the points have been covered well. Teagasc produced a thorough report in advance of Brexit. The report outlined the potential implications. Apart from the decision to leave, we are no further forward in terms of the implications than we were in April. The worst-case scenario in the report projected that agrifood exports could potentially drop by €800 million per year or 8%.

Structural issues and tariff issues will arise in terms of how things pan out. One thing we know thus far is that as a result of Brexit the issues of currency and the major currency switch or adjustment will be significant. This is potentially concerning. The impact could be structural rather than periodic, as has been the case in the past.

Has Teagasc undertaken any assessment in terms of the impact on agricultural trade between Ireland and the UK up to now? I saw reports this week on beef exports for the back end of the year. The report referred to a 13% reduction in volume of beef exported in one particular month - I am unsure whether that was September or October. That is significant. They may be issues with regard to supply in the UK which feeds in to those figures. What is the Teagasc assessment? How much evidence and information does Teagasc have thus far on the currency impact of Brexit?