Mr. Fergal O'Leary:

Transparency is an issue, and it works both ways. If there is perfect transparency, then there is a convergence in price, but the difficulty here is that there is not transparency in terms of margins, and that is where a lot of the interest is. From our point of view, coming back to the unfair trading practices, UTP, directive, the directive has been put forward as a way to address the buyer power of a lot of small farmers.

However, we do not think, as the directive is currently detailed, that this rebalance will happen. This is where we come to additional measures, more scrutiny and the idea of the sectoral regulator.