Land buyers defy CAP confusion and pessimism

FARM sales last week defied pessimism and CAP confusion, with a Co Cork dairy farm of more than 51 acres making up to €17,300 per acre when sold in lots.

Courageous buyers paid €880,000 for the 51.4 acres farm near Timoleague in west Cork, and its milk quota of 67,678 gallons.

They may be gearing up for March 31, 2004, the date proposed by Franz Fischler, the EU’s Agriculture Commissioner, as the base for dairy cow premium entitlements. For every gallon of quota owned then, a premium would be paid, to compensate for proposed cuts of up to 28% in dairy product intervention support.