ICMSA members told low interest 15-year loans for farmers ‘in pipeline’

Farmers may be able to avail of low-interest 15-year loans backed by the European Investment Bank by mid-2016, ICMSA members have heard at its AGM in Limerick.

In a week dominated by salary issues at its IFA rivals, the ICMSA event also featured news of a possible softening in the Russian embargo on EU food imports, and talk that EU may support food producers in their battles with retailers.

Agriculture Minister Simon Coveney and EU agriculture commissioner Phil Hogan told the ICMSA’s members that market indicators pointed to an improvement in the milk price towards the end of 2016. Both would continue to seek EU supports such as storage aid and measures to improve volatility controls.