Basic Payment Scheme payments to roll on October 17

The Minister for Agriculture, Michael Creed, has confirmed that the early payment of this year’s advance payment to farmers under the Basic Payment Scheme will proceed on October 17.

Speaking at a meeting with stakeholders in the tillage sector today, the Minister confirmed that he has priortised payments under the BPS scheme, formerly known as the single farm payment.

“We will be paying out 70% advance payment on  October 17.

“This early payment in conjunction with the Areas of Natural Constraint Scheme, GLAS and AEOS payments collectively are worth over €1.5 billion annually to farmers, the Minister said.

The tillage sector provides valuable raw material for the feed industry, straw for the livestock and mushroom compost industries and importantly for the rapidly developing brewing and malting industries.

“The tillage sector is a very important sector in the agricultural economy. It has been a challenging year both in terms of market returns and inclement weather conditions.

I have called together the stakeholders to firstly listen to the challenges but importantly to discuss the opportunities that lie ahead for the industry.

Minister Creed also re-iterated that the Government remains committed to the sector, both at farm and processing level, which is fully reflected in the Food Wise 2025 blueprint for the industry.

“The provision of Low Cost flexible finance is a priority for me under the Programme for Government and I am engaged in intensive ongoing negotiations with the Financial Institutions, in particular the SBCI, other Government Departments and the EU Commission in this regard.

“By using State Aid de minimis rules, I am determined to ensure that any new Loan Product will be available to Tillage Farmers on similar Terms and Conditions as Livestock Farmers,” he said.