Ulster Farmers Union said the payments would help ease some of the cash flow pressure for many farm businesses
The Northern Irish Department of Agriculture, Environment and Rural Affairs (DAERA) has today announced that the rate of advance CAP payments for 2018 will increase from 50 per cent to 70 per cent of claim value.
Advance payments will commence on October 16 and will be made to all eligible farm businesses in Northern Ireland which have fully verified claims.
Balance payments, or full payments for those not eligible for an advance payment, will commence from December 1.
The Ulster Farmers’ Union (UFU) welcomed the news.
UFU president, Ivor Ferguson sayid: “This will help with cash flow pressures on farms as we head into the winter months, when input costs on farms rise.
“We have had a mixed year weather wise, which has come after a number of wet years.
“It started out wet but in many areas, a dry spell during the summer months helped give a boost to many farm businesses.
“While in other areas, the hot, dry weather posed many challenges. The advanced payments in October will help ease some of the cash flow pressure for many farm businesses.”