Details of the Beef Exceptional Aid Measure (BEAM) were unveiled this week by Michael Creed, Ireland’s Minister for Agriculture, Food and the Marine.

The measure follows the difficult circumstances faced by Irish beef farmers because of market volatility and uncertain arising out of Brexit.

It will be funded by a combination of EU exceptional aid and Exchequer support.

“I am keenly aware that the past few months have been very difficult for beef farmers,” said Mr Creed.

“There has been a prolonged and exceptional period of depressed prices since last autumn, with the ongoing uncertainty surrounding the outcome of Brexit, among other factors, contributing to this market disturbance.

“The availability of this EU and Exchequer support, together with the Beef Environmental Efficiency Pilot (BEEP) introduced earlier this year, provides an injection of up to €120m in aid for the beef sector in 2019.”

BEAM is a demand-led, voluntary scheme that will provide financial aid to Irish beef farmers and is targeted towards those farmers most affected.

It is also designed to meet the requirements set out by the Commission, including granting support to farmers engaging in actions which enhance their long-term resilience and sustainability.

Farmers who meet the initial eligibility criteria will then have to commit to meeting the following conditions in order to qualify for aid.

Aid will be paid on adult cattle slaughtered between 24 September 2018 and 12 May 2019, at a rate of €100 per animal subject to a maximum of 100 finished animals per herd.

Aid will also be paid on suckler cows that calved in 2018, at a rate of €40 per animal subject to a maximum of 40 sucklers per herd.

Mr Creed added: “This scheme has been designed to make the application process as user-friendly and accessible as possible for farmers.

“I am delighted to confirm that farmers will be in a position to apply within weeks, with a view to making payments to farmers as quickly as possible.”