Last month I announced the Pig Exceptional Payment Scheme (PEPS), with a fund of up to €7 million, for commercial pig farmers. This is an urgent, short-term response to assist producers that would be viable but for the extreme current circumstances and allow space for a more medium-term adjustment to market signals.
This exchequer funded scheme was notified to the European Commission under the agriculture de minimis rules, which provide for a maximum payment per undertaking of €20,000.
Applications for the PEPS closed on 20th March 2022. 252 applications were received under the scheme. Over 75% of applications have since been processed for payment. The remaining applications are being processed and payments will issue to these as they are processed and any outstanding issues rectified. The total funding drawn down under the scheme will not be apparent until all applications are fully processed.