New Funding Package Agreed For Farming Sector

The EU Commission's Management Committee has agreed proposals for an aid package for Irish farmers, the Minister for Agriculture, Food and the Marine, Michael Creed, has announced.

The funding package is designed to support market stabilisation across the EU's dairy sector. Today's agreement puts in place the legal framework for the exceptional adjustment aid to milk producers and a package for the provision of aid for milk production reduction. This step paves the way for their adoption by the Commission College in early September.

Commenting on the measures, Minister Creed said: "The finalisation of these proposals is very welcome and we can start to progress their implementation at national level. I have engaged intensively with Commissioner Hogan and Agriculture Ministers from other EU member States before and after the July Council which agreed this €500m package and am delighted with the outcome and what it means for Irish farmers. Volatility in dairy markets is a global, EU and Irish problem, for which there is no single silver bullet."

The Minister added: "I have always said that the solutions have to emerge at EU level and today's commitments will be of great assistance." 

The key measures agreed in Brussels were:

• Exceptional Aid to milk producers and farmers in other livestock sectors. This is a €350m package with individual MS allocations for them to undertake measures which best reflect their national circumstances. Ireland has been allocated €11.1m

• Aid for Milk Production reduction: this proposal will fund aid to farmers who agree to temporarily reduce their milk output at a level of 14c/L. The budget for this scheme is €150m and there are no individual MS allocations.

• An extension of the intervention period for SMP to the end of January 2017 and the next period beginning immediately after.


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