The maximum 200% co-financing rate for Ireland's allocation of the EU crisis reserve funds must be implemented by the Minister for Agriculture Martin Heydon, the IFA president Francie Gorman has said.

It follows an announcement by the European Commission that an agricultural support package of €540m will be distributed among the EU member states to help ease the current fertiliser crisis.

The IFA president said that it is essential that any scheme developed should deliver money to farmers efficiently, be available for all sectors and involve a low level of administrative burden.

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The IFA continued to demand the suspension of the carbon border adjustment mechanism (CBAM) on nitrogen imports into the EU, with Gorman adding that the retention of a suspension mechanism for CBAM on fertiliser in the Economic and Financial Affairs Council (ECOFIN) vote on Friday was a positive development.

“All Irish MEPs must now work hard to ensure the parliament retains the suspension mechanism and it is not deleted from the regulation when it makes its way there,” Gorman outlined.

Rapid inflation

“At a time of such rapid inflation of key farm inputs, it is beyond belief that CBAM remains in place and is adding significant costs to farmers which cannot be passed on elsewhere.

“The Irish Government must remain open to suspension of this levy and advance this position during the Irish presidency of the council,” he added.