Farmers Journal weekly podcast: Deadlines for payments applications
Ahead of Friday's deadline for BPS and BDGP applications, we round up experts for last minute advice - and we hear from the farmer facing €144,000 in tax to transfer his co-op shares to his children.

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The deadline to apply for the main farming support schemes under the new CAP is falling this Friday.

Last week, the Irish Farmers' Journal started a new series of live video broadcasts bringing experts around the editor's table to share the best technical advice. For the first edition, Justin McCarthy invited Brendan Gleeson, who oversees meat policy at the Department of Agriculture; geneticist Andrew Cromie of the ICBF; and IFA’s director of livestock Kevin Kinsella to discuss the Beef Data and Genomics Programme. You can also watch the entire show here.

This Friday is also the deadline to apply for the Basic Payment Scheme, and young farmers have every reason to make sure their forms are handed in on time, with a special top-up and some of them eligible to apply for entitlements from the national reserve. There is also a new support scheme for investment in their farm buildings opening this week. Macra na Feirme was one of the organizations that lobbied hardest to get dedicated support for young farmers: let’s hear from their president Seán Finan and their rural affairs manager Derry Dillon.

With beef breeding and farm payments very much in the news, John Egerton, one of the regular contributors to the Farmers Journal's “Farmer writes” column, shares his radical views on both issues.

Finally, Irish Country Living’s Money Mentor Peter Young talks to consumer editor Ciara Leahy about the tax implications when parents plan to transfer shares to their children - such as those spun out to them when their co-ops changed their corporate structures.

Listen to each item separately:

Missed the previous episodes of the podcast? Catch up below!

Episode 8 - 20 May 2015: Agribusiness Report launch and Balmoral voices

Balmoral Show special - Irish Farmers Journal business briefing

Episode 7 - 13 May 2015: Spring breeding and focus on Northern Ireland

Episode 6 - 6 May 2015: Weather, fertilisers, blogger and harvesters

Episode 5 - 29 April 2015: New beef scheme and blackcurrant rebirth

Episode 4 - 22 April 2015: Farm safety and crop growth update

Episode 3 - 15 April 2015: GLAS, Ornua results and social welfare entitlements

Episode 2 - 8 April 2015: Markets for Irish beef

Episode 1 - 31 March 2015: End of milk quotas

Arrabawn holds December milk price
The processor is the most recent to announce that its milk price will be unchanged.

Arrabawn has decided to hold its price for December milk at 30.6c/l excluding VAT.

The price has remained unchanged for several months.

Most co-ops opted to leave milk prices unchanged for December.

Dairygold

Dairygold announced that it will hold their December milk price at 30.36c/l excluding VAT.

The price is inclusive of a 0.5c/l quality bonus based on standard constituents of 3.3% protein and 3.6% butterfat.

The co-op has also held this price for several months.

Lakeland Dairies, Glanbia and Kerry Group held their price at 30.4c/l (excluding VAT) for December milk supplies.

Read more

Dairygold holds December milk price

Aurivo and Carbery set milk prices for December

The farmer's daily wrap: low-cost loans and BDGP map
Check out the latest headlines and get a look ahead at tomorrow's weather forecast.

Weather forecast

A status yellow nationwide snow and ice warning is in place from 7pm Monday 21 January until 9pm the following day.

According to Met Éireann, hill and mountain areas are expected to be the worst affected.

Frost and ice are predicted and temperatures will dip to -1°C, with fresh winds.

In the news

  • Minister Creed has said some 2,511 farmers are yet to pass the approval process for their BDGP payment.
  • Vets have criticised the Department’s level of action in the run-up to Brexit.
  • Grant funding of up to €25,000 is available to farmers participating in GLAS to restore traditional farm buildings and structures.
  • Farmers will have to draw down a minimum of €50,000 to access the next low-cost loan scheme.
  • Social Farming is set to double the number of its farmer participants from 60 to 120, according to its annual report.
    Minimum €50,000 draw-down for low-cost loans
    Farmers will have to draw down a minimum of €50,000 to access the next low-cost loan scheme.

    The Strategic Banking Corporation of Ireland (SBCI) has confirmed details of the Future Growth Loan Scheme, including that farmers will have to apply for a minimum of €50,000 to avail of the scheme.

    The long-awaited low-cost loan scheme will offer eligible businesses and farmers loans at an interest rate of 4.5% or less.

    The maximum draw down is €3m and the loans are for terms of between eight and 10 years.

    Banks have been invited to apply to distribute the new low-cost loan scheme, with Bank of Ireland, AIB and Ulster Bank all having previously expressed interest in taking part in the scheme.

    Loans in March

    Up to €300m is available under the scheme, which is being developed in conjunction with the SBCI, the Department of Agriculture and the Department of Business.

    Minister for Business Heather Humphreys previously told the Irish Farmers Journal that she hopes to see the loan scheme fully operational by March this year.

    Financial institutions have until 11 February to submit their applications to become lending partners.

    Previous scheme

    Under the previous low-cost loan scheme, the interest rate was set at 2.95%, with loan terms available between 18 months and three years.

    A total fund of €150m was available, with roughly €145m drawn down by farmers. By October last year, some €47.5m had been repaid.

    Read more

    Listen: low-cost loans to land in March

    Where is the low-interest loan fund?