Direct payments to local farmers in Northern Ireland will be £0.61m less than 2018. This drop is due to fluctuations in exchange rates, with this year's payments to be converted to sterling at a rate of €1=£0.89092.
Direct payments to local farmers in Northern Ireland will be £0.61m less than 2018.
This drop is due to fluctuations in exchange rates, with this year's payments to be converted to sterling at a rate of €1=£0.89092.
“Direct payments are set in euro and converted to sterling each year using the exchange rate calculated in accordance with the EU regulations,” according to The Department of Agriculture, Environment and Rural Affairs (DAERA).
"In 2019, the rate is the average market rate for the month of September according to the European Central Bank."
Young farmers
The same exchange rate will also apply to young farmer payments in Northern Ireland.
The 2019 young farmers’ payment will be paid at the rate of £44.68 per hectare. Young farmers’ payment is made on a per-hectare basis up to a limit of 90 hectares.
Read more
Stronger sterling – bad timing for farmers
Over 2,000 farmers apply for EFS
This is a subscriber-only article
SHARING OPTIONS: