Boortmalt tried to set farmer ‘energy surcharge’ as profits soared
French-owned malt producer attempted to deduct €12.50 per tonne of grain purchased when it had just recorded a 58-fold increase in profit
Boortmalt, the French-owned agribusiness company which buys malting barley on behalf of the drinks industry in Ireland, recorded a 58-fold increase in profits last year at the same time as it tried to impose an “energy surcharge” on farmers.
New accounts for Boortmalt Ireland Limited, which is the country’s largest producer of malt, showed it recorded an after-tax profit of €18.5 million in 2022, compared to €316,000 the previous year.
On an annual basis, the company buys up roughly 80 per cent of all malting barley grown in Ireland. As reported in August last year by the Business Post, the firm attempted to deduct an “energy surcharge” from farmers to cover the rising cost of electricity and gas faced by the business.
