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Basic Payment Scheme

  • 17-02-2021 2:59pm
    #1
    owen.fitz
    Registered Users Posts: 15 ✭


    Hi, I have the option of buying 7 acres of family land. Can anyone tell me what sort of Basic Payments i would be entitled to if I was to farm this land. Or what other schemes I could opt into to help the payments, any help appreciated


Comments

  • #2
    Hard Knocks
    Registered Users, Registered Users 2 Posts: 4,081 ✭✭✭Hard Knocks


    owen.fitz wrote: »
    Hi, I have the option of buying 7 acres of family land. Can anyone tell me what sort of Basic Payments i would be entitled to if I was to farm this land. Or what other schemes I could opt into to help the payments, any help appreciated

    Best of luck
    With Basic Payment you will have to own entitlements, which were 3 times the value when we bought
    Eg a €200/ha entitlement cost €600/ha to buy
    On 7ac you’re looking at 3 entitlements

    The pilot for Reps should be out this year
    It could be best speaking to an Agri Consultant as they may have details on it


  • #3
    owen.fitz
    Registered Users Posts: 15 ✭owen.fitz


    Thanks for the reply, so youd be looking at around €600 of a basic payment?


  • #4
    orchard farm
    Registered Users, Registered Users 2 Posts: 272 ✭✭orchard farm


    Every year entitlements are bought and sold all have different values, you could buy three max as you need 1 ha for 1 entitlement.price of each is around 2.5 to 3 times value.Id advise againest the high value ones if you want a return on investment. Farmers journal advertise them for sale as do local auctioneers. Chat a farm advisor


  • #5
    mickuhaha
    Registered Users, Registered Users 2 Posts: 475 ✭✭mickuhaha


    You need to talk with a good advisor. If you're under 40 and have a ag degree you could go for Young Farmers Scheme. This gives a top up to the value of entitlements you hold. Not just own , hold. If you got young farmers and also took a long lease of land and entitlements, all the entitlements would raise in value. I am just telling you second hand info as I'm not into it myself. So ask around local to see who is the best advisor that knows their stuff.


  • #6
    hopeso
    Registered Users, Registered Users 2 Posts: 1,441 ✭✭✭hopeso


    owen.fitz wrote: »
    Thanks for the reply, so youd be looking at around €600 of a basic payment?

    Yes, if you buy entitlements valued at €200 each. However, there isn't a standard value on entitlements. You could probably find entitlements valued at €50, or likewise €500.
    Others probably know more than me, but I'd say it's a bad time to buy expensive entitlements, with the reformed CAP around the corner. High value entitlements could well be worth less after the reform. On the other hand, low value entitlements may well increase in value, and might be worth a gamble?


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