Dr. Ailish Byrne:

The horticulture sector is very small with regard to number of producers, particularly in the mushroom sector which was predominantly impacted by Brexit prior to Christmas. A handful of them have applied for SBCI funding and have been approved. The sector is very small, which is why it does not figure in some of the major headlines.

With regard to retrospective financing of working capital spent on farms, it has gone out retrospectively to the pig sector with regard to clearing merchant credit bills and mostly to those in the dairy sector who did expansion work on their farms after the abolition of milk quotas in 2015. These are the two main sectors which looked for retrospective financing under the SBCI product. The beef sector looked for future financing for the purchase of stock, feed and fertiliser up to 2017.

We have dealt with the structure of loan terms and how they have been provided over various terms. This has been adequately dealt with. With regard to the tillage sector and localised weather, particularly in Donegal and along the west coast, there have been issues where tillage farmers lost crops completely. They were left in very difficult situations. We have dealt with them on a one to one basis because the group of farmers in this situation very small. They are also facing difficulties this year, with grain prices being predicted to be no higher than last year. The good growth we are getting at present is driving on disease in crops. It is a difficult period for these farmers. The SBCI will provide one solution, but it is a sector with which we need to continue to work closely to get it through a difficult number of years rather than a particular point in time.

We have a very limited waiting list. I am hopeful we might be able to get the people on the waiting list onto the existing scheme. Some people may not progress with applications that have already been made or some may have applied for the maximum of €150,000 under the scheme, but when they come to draw it down they will not need the full funding. I am very hopeful we will be able to accommodate our customers on the waiting list through the existing product.