The Minister for Agriculture, Food and the Marine, Charlie McConalogue, T.D., today confirmed that payments of €46.6 million to 27,200 farmers under the 2020 Beef Finisher Payment (BFP) have commenced.
The Minister commented:
This support provides a valuable income support and helps mitigate the economic impact for those farmers who finished cattle when prices were under particular pressure as a result of COVID 19 earlier this year. Beef farming is an important economic activity, with a significant multiplier effect in local rural communities, and thus is more important than ever in sustaining these communities as we work towards economic recovery.
We have seen the benefits of the Beef Finisher Payment as it delivers direct financial supports to our country’s finishers who were adversely affected by COVID-19. I also believe the Beef Finisher Payment has helped provide a floor to the mart trade this autumn. The Scheme has assisted beef finishers in purchasing weanlings and store animals which has, in turn, supported our suckler farmers.
The Beef Finisher Payment is the latest supportive measure for the beef and suckler sectors carried out by the Department of Agriculture in recent times. As well as the Beef Finisher Payment issuing today, €6m in funding has been secured for the marketing and branding of suckler-based brand while a further €85m has been secured as part of Budget 2021 to support sustainable beef farming – these measures include €40m for the rollover of the BDGP, a further €40m for BEEP and €5m for the calf weighing scheme. These come on top of the €76m BEAM scheme which issued in 2019 and the first BDGP scheme which concluded recently.
The payment rate under the BFP is €100 per eligible animal.
Minister of State, Anne Rabbitte said:
It is my belief of this Government that we need a well-supported beef sector because of the many benefits the sector has on our society and our economy.