Land buyers defy CAP confusion and pessimism
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.
But the outcome depends on long negotiations over Fischler’s mid-term review of the Common Agricultural Policy, which is opposed by at least 11 member states.
And if the UK, Sweden and Italy were to get their way, milk quotas would be abolished in 2004.
On the other side, most member states, and most of the EU’s dairy farmer organisations, want milk quotas to stay until 2015.
CAP uncertainty was also defied last week by the buyers of 13 acres of pasture at Rathcairn, Co Meath, paying €33,000 per acre for the land, 35 miles from Dublin.
The land isn’t development material, per se, but according to auctioneer Tom Potterton, a cluster development of houses could get permission. Two keen bidder brought the overall price to €430,000.
