Business at the trade stands at the Ploughing was lively for many items, albeit perhaps at the lower end of the investment scale.
Animal handling units, water troughs and feeding equipment met a brisk trade, no doubt helped by TAMS investment and a recent rise in milk prices. The financial firepower required to buy a new tractor or machine these days means that on the spot decisions at the Ploughing are few and far between.
Pre-Ploughing discussions with banks and credit unions must be had, and there were plenty of farmers visiting those stands too.
Many will be waiting to see what the upcoming Budget 2025 – a week earlier than usual on 1 October – will bring before taking the plunge on machines or equipment costing tens of thousands of euros. Prudent spending applies to farmers just as much as it applies to Minister for Finance Jack Chambers.
ANC money comes as a welcome change
The increased advance Areas of Natural Restraints (ANC) payment, from 70% to 85% of the full amount owed, to farmers is a positive development.
It’s a recognition by the Department of Agriculture that the sector has cost price pressures that are reducing margins significantly at farm level.
We often call out the Department when a payment is delayed or reduced, so it is only fair to recognise it when it’s boosted.
This is the highest percentage of farmers to receive an advance payment. More credit will be due if ACRES and BISS payments hit payment date targets.
Business at the trade stands at the Ploughing was lively for many items, albeit perhaps at the lower end of the investment scale.
Animal handling units, water troughs and feeding equipment met a brisk trade, no doubt helped by TAMS investment and a recent rise in milk prices. The financial firepower required to buy a new tractor or machine these days means that on the spot decisions at the Ploughing are few and far between.
Pre-Ploughing discussions with banks and credit unions must be had, and there were plenty of farmers visiting those stands too.
Many will be waiting to see what the upcoming Budget 2025 – a week earlier than usual on 1 October – will bring before taking the plunge on machines or equipment costing tens of thousands of euros. Prudent spending applies to farmers just as much as it applies to Minister for Finance Jack Chambers.
ANC money comes as a welcome change
The increased advance Areas of Natural Restraints (ANC) payment, from 70% to 85% of the full amount owed, to farmers is a positive development.
It’s a recognition by the Department of Agriculture that the sector has cost price pressures that are reducing margins significantly at farm level.
We often call out the Department when a payment is delayed or reduced, so it is only fair to recognise it when it’s boosted.
This is the highest percentage of farmers to receive an advance payment. More credit will be due if ACRES and BISS payments hit payment date targets.
SHARING OPTIONS: