WALES' red meat industry is to be handed £1.5 million to help it maintain existing export markets and develop new ones post-Brexit, it has been announced.

The Welsh Government's environment and rural affairs secretary Lesley Griffiths has announced Hybu Cig Cymru – Meat Promotion Wales (HCC) will be handed the cash over the next three years.

Ms Griffiths announced the investment, which reportedly has the potential to increase sales of Welsh red meat by £4.6 million, at Anuga, an international food and drink trade event in Cologne.

Speaking at the event the Labour secretary said only five per cent of Welsh lamb is consumed in Wales, with up to 40 per cent being exported outside the UK, 90 per cent of this within the European Union single market, worth more than €200m per year.

"This £1.5m funding is a direct response to the significant challenge the industry faces with the uncertainty of future trading arrangements post-Brexit," she said.

"We clearly need to continue to strengthen and future-proof our industry and it is vital that HCC continue to support the industry to maintain key markets in Europe, as well as look further afield.

"I am confident that this investment and the support to be delivered by HCC will help the industry to meet the challenges and opportunities over the next few years."