There are growing expectations that farmers still awaiting payment for cattle exported two weeks ago to Algeria will receive payment early next week, when banks reopen after the long weekend.
On Thurdsay evening the exporter, Roundwood Park Livestock, told farmers the balance of the funding paid by the Algerian government to an international bank in London two weeks ago had now been released and transferred to an AIB bank account in Dublin.
On Friday afternoon the exporter met with a small number of farmers at the bank branch to provide reassurance that the funding had arrived. It is now due to be paid out by bank transfer to the farmers’ accounts.
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Stress
The payment delay has led to a lot of stress for the farmers, who number about a dozen. One is owed over €100,000. It has also been a difficult two weeks for the exporters, who had expected the funds to transfer in full from London to Dublin once the boat was loaded.
They had told farmers that payment for cattle would be made as soon as the cattle were on the boat.
A number of the farmers involved contacted IFA in recent days seeking advice regarding the delay in payment.
The exporters’ boat is now on the way back to Ireland for a second load of cattle for export to Algeria.
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There are growing expectations that farmers still awaiting payment for cattle exported two weeks ago to Algeria will receive payment early next week, when banks reopen after the long weekend.
On Thurdsay evening the exporter, Roundwood Park Livestock, told farmers the balance of the funding paid by the Algerian government to an international bank in London two weeks ago had now been released and transferred to an AIB bank account in Dublin.
On Friday afternoon the exporter met with a small number of farmers at the bank branch to provide reassurance that the funding had arrived. It is now due to be paid out by bank transfer to the farmers’ accounts.
Stress
The payment delay has led to a lot of stress for the farmers, who number about a dozen. One is owed over €100,000. It has also been a difficult two weeks for the exporters, who had expected the funds to transfer in full from London to Dublin once the boat was loaded.
They had told farmers that payment for cattle would be made as soon as the cattle were on the boat.
A number of the farmers involved contacted IFA in recent days seeking advice regarding the delay in payment.
The exporters’ boat is now on the way back to Ireland for a second load of cattle for export to Algeria.
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