Fine Gael TD for Mayo Michelle Mulherin has welcomed the announcement by the Minister of Agriculture of the advance payment of €487 million in Single Farm Payments (SFP ) to 101,000 farmers. The payments have been brought forward from December to October following representations made by Minister Coveney to the EU Commission.
“Payments have started issuing directly into farmers’ bank accounts as of Monday October 17. Cash-flow has become a critical issue for farmers, particularly those on low incomes, and the timing of these payments is extremely important.
“Huge numbers of farmers rely on the Single Farm Payment to subsidise running costs and the payment often constitutes an amount greater than the net farm income.
“Additional payments will be made up to December 1, 2011 when the 50 per cent balancing payments are scheduled to commence issuing. By the end of the year, the vast majority of the SFP will have been paid, the total value of which will be in excess of €1.2 billion.”