Réada Cronin
Question:317. Deputy Réada Cronin asked the Minister for Agriculture, Food and the Marine his plans to restore a native sugar industry; and if he will make a statement on the matter. [45547/24]
View answerThursday, 7 November 2024
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In 2006, the EU introduced a restructuring mechanism intended to reduce overall production of sugar, acknowledging the then global over supply and resultant low prices being achieved. Ireland secured €353 million as part of the reform package with some €220 million being distributed to beet growers and a further €6 million to machinery contractors in the sector.]
Since 2006, a number of groups have expressed an interest in the redevelopment of the sugar sector, two of whom prepared desktop feasibility studies between 2010 and 2011. In their findings, both proposals sought to develop a new sugar and bio ethanol production facility with capital costs, estimated at the time, of between €250 million and €400 million.
As part of the reform of the CAP, agreement was secured on the abolition of sugar quotas from 30 September 2017. From that date, investors in the European Union, including Ireland, are free to invest in sugar producing capacity if they wish.