DAIRY and tillage farmers are to be compensated to the level of £46 million for losses suffered in recent months due to revaluations of the Irish green pound. The Minister for Agriculture, Mr Yates, yesterday announced the package, which is made up by EU aid and £7.5 million provided by the Government.
The dairy sector is to benefit from the bulk of the aid, receiving £39 million. The average dairy farmer will receive £1,100 in two payments, while cereal farmers will receive £4.8 million and sugar beet growers £1.9 million.
Dairy farmers will receive the equivalent of 3.5p a gallon of milk, half of which will be paid immediately with the balance due by late summer. In the cereal sector, payment is about £17 per hectare, while beet compensation is set at £1.27 a tonne.
"This very significant level of support, including £7.5 million from national funds, comes with the £17 million already announced for the beef sector. It is evidence of the clear commitment of the Government to the farming sector," Mr Yates said.
The ICMSA welcomed the aid but said it had to be put in the context of a drop of 10p a gallon in milk prices. Its president, Mr Frank Allen, called for an immediate payment in full to farmers to help them overcome the losses they had incurred.
The dairy compensation is due to be paid by the Department to coops for onward payment to individual producers. A once off payment by the Department will be made to cereal farmers by the end of May.
