Payout ‘will help cash flow troubles’

THE 50% payout of the single farm payment in mid-October would greatly alleviate cash flow difficulties for farmers as a result of the very wet summer, according to IFA deputy president Derek Deane.

He said the weather imposed high costs.

He also said Agriculture Minister Mary Coughlan’s announcement of the 50% advance payment — worth €650 million — as well as the commencement of disadvantaged area payments worth €258m will give a much needed boost to the cattle and sheep trade.

He said payment of the full single farm payment on October 16 from next year onwards can be raised in the context of the CAP Health Check, which will take place in 2008.