The new €50m beef scheme will be “exclusively for beef finishers”, Minister for Agriculture Michael Creed has said.
He said he thinks the scheme will “percolate down through the entire industry including the suckler sector, because it will put a floor under weanling prices in the autumn”.
The Irish Farmers Journal understands that there will be a payment per head of cattle slaughtered based on a historical reference period, likely from March until potentially the start of June.
Minister Creed told the Irish Farmers Journal on Friday that he wants to keep the scheme “as simple as possible” for farmers to apply to.
When asked by the Irish Farmers Journal if there will be a stock reduction element to the scheme, the Minister said that his Department will be engaging with farm organisations on the conditions around scheme.
“The reduction element as you recall was a condition that the Commission imposed on us because the last scheme was co-funded,” he said.
He said he hopes to pay farmers in the scheme “as early as possible”.
The scheme will require EU approval before it can be launched.
Double whammy
Since early March there has been a “double whammy” in the beef sector, Minister Creed said, in the sense of a significant price collapse and a problem with a drop in kill numbers.
The Minister said there is an overhang on the market in the form of 50,000 cattle which would normally have been sent to the factory by now.
Minister Creed said the background to the scheme rollout is a very difficult market situation which pre-dated COVID-19 challenge for Irish beef and the export market.
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The new €50m beef scheme will be “exclusively for beef finishers”, Minister for Agriculture Michael Creed has said.
He said he thinks the scheme will “percolate down through the entire industry including the suckler sector, because it will put a floor under weanling prices in the autumn”.
The Irish Farmers Journal understands that there will be a payment per head of cattle slaughtered based on a historical reference period, likely from March until potentially the start of June.
Minister Creed told the Irish Farmers Journal on Friday that he wants to keep the scheme “as simple as possible” for farmers to apply to.
When asked by the Irish Farmers Journal if there will be a stock reduction element to the scheme, the Minister said that his Department will be engaging with farm organisations on the conditions around scheme.
“The reduction element as you recall was a condition that the Commission imposed on us because the last scheme was co-funded,” he said.
He said he hopes to pay farmers in the scheme “as early as possible”.
The scheme will require EU approval before it can be launched.
Double whammy
Since early March there has been a “double whammy” in the beef sector, Minister Creed said, in the sense of a significant price collapse and a problem with a drop in kill numbers.
The Minister said there is an overhang on the market in the form of 50,000 cattle which would normally have been sent to the factory by now.
Minister Creed said the background to the scheme rollout is a very difficult market situation which pre-dated COVID-19 challenge for Irish beef and the export market.
Read more
Breaking: €50m scheme for beef farmers to be confirmed
Farmers must shape plan for the next CAP
‘Small print important’ in any beef support scheme - IFA
Cabinet approves €50m beef support scheme
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