24 November 2023
Thinking of investing in slurry storage? Talk to People First Credit Union
With nitrates derogation limits being cut from 250kg of organic nitrogen per hectare (N/ha) to 220kg N/ha, now is the time for derogation farmers to start planning for January when the new rules will come into effect. A Cultivate loan can be used to support the development of additional slurry storage on farms.
In light of these changes, the Department of Agriculture has indicated that measures to increase on-farm slurry storage capacity will be introduced under Budget 2024. A higher rate of TAMS (Targeted Agricultural Modernisation Scheme) grant of 70% will be available for new tanks for those importing slurry. Final terms and conditions are yet to be confirmed by the Department.
TAMS plays a fundamental role in the development of farms in Laois and throughout the country. Investment in slurry tanks are already covered under the scheme at a 40% grant rate. Speaking on behalf of Cultivate from People First Credit Union, Belinda Gyves reminded farmers that Cultivate is here to help farmers navigate the reduction in nitrates.
“The Cultivate team here in People First Credit Union understand the need for farmers to complete on-farm investments to ensure their farm can successfully comply with changes in regulations into the future. We work with farmers Laois to provide them with the finance needed to carry out these investments. Cultivate Agri loans can support farmers as they look to implement these investments through TAMS.”
There is an opportunity for farmers to make better use of nutrients by setting up the right infrastructure. This means giving farmers the ability to get and store more nutrients when they need them. By building on-farm storage and using slurry when it makes sense, farmers who usually bring in slurry can cut down on chemical fertilisers. It also helps farmers with extra slurry stay in line with the new derogation changes. Farmers planning to apply for funding to build slurry storage under TAMS are encouraged to contact their agricultural advisor to discuss first steps.
Cultivate is the collaborative credit union finance lending platform for farmers providing short to medium term loans. Participating credit unions work closely with farmer members to meet their changing needs. For any farmer who wants to find out more about how to access a Cultivate loan to supplement their next TAMS application, visit www.peoplefirstcu.ie/cultivate or contact People First Credit Union Ph: 057 8622594