Oireachtas Joint and Select Committees
Thursday, 16 February 2017
Public Accounts Committee
2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 30 - Agriculture, Food and the Marine
Chapter 7 - EU Refunds and Levies in the Agriculture Sector
9:00 am
Mr. Aidan O'Driscoll:
It happened for a number of reasons, but essentially the reason was there was an increasing supply in all of the major production regions of the world combined with a contraction in demand that was partly due to the global recession and partly due to the fact that China had overstocked with dairy products. Of course, when it moves on world markets, it has a completely-----