29 Jun 2011
ADVANCE SFP PAYMENT IN MID-OCTOBER WILL HELP CASHFLOW ON FARMS – IFAUncategorized
IFA President John Bryan has welcomed the decision by the EU Commission to allow member states to commence the Single Farm Payment in mid-October.
John Bryan said the advance payment of over €600m will be crucial to help cash flow on thousands of mainly drystock farms. He said the increases in commodity prices this year have been significantly eroded by a steady increase in farm inputs costs, particularly of feed, fertiliser and fuel.
The IFA President said Minister for Agriculture Simon Coveney must ensure there is not a repeat of the problems with payments which arose last year. The 124,000 farmers who are due a payment must be paid the full advance on October 17<sup>th</sup> next.
He said, “The full Disadvantaged Area payments totalling €220m must be paid on September 22<sup>nd</sup> to the 100,000 farmers who are due a payment. The 75/25 split payment which arose in 2010 must not happen again.”
The IFA President said the early payment of part of the SFP in October, and a full Disadvantaged Area Payment in September, will inject over €800m in the agri economy at a crucial time.