Farm Ireland

Monday 18 December 2017

Credit access is a real problem say 78.4pc

An overwhelming majority (78.4pc) of Macra members believe access to credit is a real problem for farmers.

When the young farmers were asked if they had applied for any loans during the past 12 months, 35.5pc said they had, while 63.8pc had not applied for any loans during that period. Of those who had applied for a loan, more than 70pc had been approved, while the rest were not approved. However, the survey did not require the farmers to disclose how much money they borrowed.

The farmers were also asked if they would consider buying former development land if it came up for sale near them. The majority (73.5pc) said yes, while 26.5pc said no.

When quizzed on how much per acre they would be prepared to pay, 17.9pc said less than €5,000/ac, 49.6pc said €5,000-8,000/ac and 23.9pc said €8,000-11,000/ac. However, 5.1pc of all said they would pay up to €14,000/ac, while another 0.9pc would pay €14,000-17,000 and 2.6pc would pay more than €17,000/ac.

Farmers already involved in dairying and those intending to enter the dairy industry were asked for their opinion on future milk processing arrangements.

After the abolition of the current quota regime, almost one-third of those surveyed (32.8pc) would like to see another system of quotas put in place. More than one-quarter (25.3pc) would like to see a system put in place where young farmers would be excluded from quota rules governing other farmers and 28pc think farmers should pay for additional processing rights.

The remaining 13.4pc said they were not sure what should happen when the current regime is abolished.

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