-
agriculture : a year dominated by Brexit

The issue that consumed agriculture all year was Brexit.
The industry was particularly exposed to the potential implications and spent months trying to second guess them.
Long-standing cross-border supply chains in milk, meat, and vegetables were at risk from the twin threats of regulatory checks and tariffs.
Businesses watched as Parliament wrestled with whether to approve Theresa May's withdrawal deal - something which ended in failure and her resignation as prime minister
Peak concern came in October as efforts intensified by her successor Boris Johnson to cut a new deal with the EU and a no-deal Brexit looked distinctly possible.
First Dale Farm and then the entire dairy sector flagged the damage a no-deal Brexit could do.
The Dairy Council in Northern Ireland warned of a "doomsday".
The organisation's spokesman, Mike Johnson, said tariffs would cost dairy co-ops their customers, there would be no point collecting milk and farmers would have to pour it into slurry tanks or spread it on fields with the associated environmental and animal welfare implications.
Into this atmosphere stepped the Farming Minister Theresa Villiers in an attempt to reassure the agri-food industry.
In 2016 during the EU referendum campaign and as Northern Ireland secretary she had told farmers it was "perfectly possible" to have a border as "free flowing" for goods after Brexit as before.
A wee bit of support'
Later, during a lengthy meeting at Stormont in mid-October 2019 she promised them "additional financial support" were there to be "significant instability" in the market.
The Ulster Farmer's Union deputy president Victor Chestnutt was blunt in his response.
"I stressed that it wouldn't be a wee bit of support agriculture would be needing if we wake up with no route to market - it would be life support," he told BBC News NI after the meeting with Ms Villiers.
Boris Johnson defied his critics and persuaded the EU to revisit the withdrawal agreement, something it had said it would not do.
The new arrangements got a muted response from farmers.
They acknowledged it addressed some of their concerns about checks and tariffs on goods bound for markets in the EU.
But now the concern was what the prime minister's deal would mean for access to Northern Ireland's biggest single market - Great Britain - which takes almost half of our agri-food sales - the equivalent of £2.3bn.
A leaked treasury document which emerged during the election raised significant issues with how the new protocol might affect trade across the Irish Sea.
A comprehensive trade agreement with the EU should go some way to addressing many of the concerns farmers have.
It could well be this time next year before we see whether that is a runner.
source : BBC
Tags
You May Also Like
Popular Posts
Caricature
BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
opinion
Report
ads
Newsletter
Subscribe to our mailing list to get the new updates!