Entitlements for the 2018 Basic Payment Scheme are trading for around half of their value for a one-year lease and around one and a half times their value for an outright sale, according to Stephen Keys of RA Noble & Co.

“Entitlements are still showing a good return on money from now until December 2019, which is as far as I can guarantee any customer before changes potentially come with Brexit. Anything they get beyond that will be a bonus,” the Clogher-based auctioneer told the Irish Farmers Journal.

The values of trading entitlements are quoted at their value for the 2018 scheme year and exclude greening, so an additional 44% over their value will be available with eligible claims.

DAERA’s online system for transferring entitlements for sale, gift or lease opens today (Thursday) and closes at midnight on Wednesday 2 May 2018.

To transfer entitlements, the business ID and entitlement transfer ID of the person receiving the entitlements is needed.

The department is reminding farmers and landowners that any entitlements that are not claimed in two consecutive years will be confiscated and returned to the regional reserve.

Anyone with extra entitlements that were not claimed in 2017 should either increase their area farmed or transfer the surplus entitlements to another farm business.

The advice from DAERA and auctioneers for anyone looking offload or take on extra entitlements is to get it done well in advance of the 2 May deadline.