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Forestry payments totalling €33.24m have been made to over 7,000 forestry owners, Minister of State with a responsibility for forestry Andrew Doyle has announced.
The 2020 forestry premiums have commenced earlier than last year and total payments issued exceed the payments made at the same time last year by almost 30%.
Minister Doyle said: “This tax-free payment illustrates that forestry remains a very viable long-term investment option for farmers, providing a regular income stream for up to 15 years after planting and a stable market for timber.
“This farm-forestry model also allows farmers to diversify their income while still maintaining livestock if they wish. I would encourage all farmers to consider the options provided under the current Forestry Programme and discuss the range of schemes with their agricultural advisor.”
Applications
The forestry premium system has moved fully online and there has been a 40% increase in forest owners who applied for premium compared to last year.
Payments will continue weekly and forest owners who have not yet submitted their online applications, can apply online for their forestry premiums through the Department’s website.
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