Pressure rising for SFP advance
Pressure is mounting on Minister for Agriculture Simon Coveney to secure a 70pc advance on the 2012 single farm payment (SFP).
The IFA has called on Minister Coveney to appeal to EU Commissioner Dacian Ciolos for the majority of the SFP to be paid in October.
In the face of worsening weather conditions and mounting losses on farms, an advance payment of 70pc would help ease cashflow problems on farms, said IFA president John Bryan.
A 70pc advance payment was last agreed in 2009, when farm incomes plummeted.
AIB has also asked farmers who are experiencing or anticipate cash flow difficulties due to the weather to contact their bank manager as early as possible.
"Early engagement with the bank will facilitate appropriate solutions to the weather related problems currently being encountered," said John Webb, head of business banking at AIB.
Meanwhile, Lakeland Dairies has announced it will pay a June milk price of 27.56c/l plus VAT. Although this equates to a cut of 1c/l on the May milk price, the co-op will pay a 'hardship bonus' of 1c/l to all suppliers unconditionally for their June milk supplies. Arrabawn Co-op is to hold its June price at 28.45c/l including VAT, following a board meeting yesterday.