Banks are nervous of lending to young farmers as a result of the ongoing Belview cheese plant row, Macra na Feirme Land Mobility Service programme manager Austin Finn has told the Irish Farmers Journal.
Banks are reportedly reluctant to issue loans to young farmers while An Taisce launches a further appeal against a High Court judgement on planning permission for the Glanbia cheese plant at Belview, Co Kilkenny.
“Banks' nervousness is an unfortunate side effect of the ongoing cheese plant row. It adds another element of uncertainty,” Finn said.
“Young lads going into the bank hoping to supply Glanbia are being asked will they be able to sell their milk.”
Finn said that uncertainty around the next CAP has resulted in a lot of landowners ‘sitting on the fence’ and in turn reducing land transfers.
“It has been a funny year between two CAPs and has held a lot of land owners back from making any moves until the full details have been confirmed.
“Once clarity comes, I’m predicting a lot of land will become available.”