The number of farmers leasing entitlements has continued to rise year-on-year. The vast majority of these leases are on a one-year basis.

Last year, 17,629 transfers including leases, gifts and sales were processed, which saw €55m worth of entitlements change hands.

The popularity of entitlement transfers continues to increase with 14% of farmers availing of the facility last year.

The figures compiled by the Department of Agriculture are part of a review of the Basic Payment Scheme ahead of the next CAP.

The most common method of transfer was leasing which accounted for 60% of transfers in 2018. Sales, gifts and inheritance of entitlements made up the majority of other transfers.

The number of entitlement leases has increased from just under 4,000 in 2015 to over 12,000 in 2018.

The popularity of conacre leasing agreements means one-year leases account for the majority of leases.

The five-fold increase in one-year leases since 2015 is likely due to uncertainty around the next CAP.

Farmers have been advised in many cases to consider short-term leases as there were issues in 2015 for those who had leased entitlements on a long-term basis.

There are 4.2% (5,906) of farmers leasing out entitlements while there are 4% (5,599) leasing in entitlements.

Approximately 2% (2,962) of farmers in Ireland have leased out all of their entitlements. These farmers are leasing entitlements with a total value of €16,607,268.

Some 541 of those leases are to end this year with a further 824 to end in 2020.

The sale of entitlements has increased in popularity since 2015, when the Department changed its clawback rules. Entitlements sold without land are subject to a 20% clawback whereas this figure was previously 40%.