The move to take action at a European level on unfair trading practices in the food chain has been welcomed by the Minister for Agriculture Michael Creed and European farm lobby organisation Copa Cogeca.

The European Commission’s council of ministers agreed on Monday to put legislation in place that would share risks more equally along the supply chain, enchance contractualisation, market transparency and improve risk management.

The move aims to strengthen the position of farmers in the food supply chain and tackle unfair trading practices.

The move follows the publication of the Agricultural Markets Task Force report, which recommended mandatory price reporting at all stages along the food chain.

Following the meeting, Creed also welcomed the call for legal clarity on exemptions from competition law for producer organisations and co-operatives.

He noted the inclusion of references to the development of futures markets, something he said is being actively pursued in Ireland.