THE THOUSANDS of farmers attending the National Ploughing Championships today in Athy can expect confirmation that they will get their single farm payments early this year, probably on Monday, October 18th.
This payment will represent half the €1.5 billion that farmers receive annually and Minister for Agriculture, Brendan Smith, said he expected the remaining payments before Christmas.
Yesterday, the Minister, who had sought early payment on the basis of the poor weather of last winter and early spring, confidently predicted the EU management committee would sanction the request at its meeting in Brussels today.
Along with the single farm payments, farmers can also expect payments under the disadvantaged area schemes and a grassland sheep scheme worth €18 million. Saying he was confident farmers would receive almost €1.5 billion before December 31st, Mr Smith outlined a schedule of payment dates which would at least make bank managers happy.
AIB meanwhile has announced a pre-championship fund of €60 million for the purchase of equipment and machinery in the agricultural sector for all existing or potential clients.
Robin Bradley, head of asset finance and intermediary business in AIB, said many farmers had held off replacing machinery and equipment over the past two difficult years in farming given the income pressure they were experiencing.
“There is quite a pent-up demand for farm machinery and equipment in the sector,” Mr Bradley said.
These two bits of good news should spark off a great deal of tyre-kicking here in Athy where serious business is done over the three days. According to Anna May McHugh, National Ploughing Association PRO, business people were still calling the association yesterday seeking retail or exhibition space at what is the largest outdoor event of its kind in Europe. It will be formally opened at noon today by President Mary McAleese.