Following the decision of ICBF to make adjustments to the EBI base, the ICMSA’s Deputy President, Pat McCormack, said that following detailed representations from his association, the Department of Agriculture, Food & Marine has confirmed that the EBI co-efficient used for determining cattle valuations under the TB compensation scheme will be adjusted to reflect the new base being used by ICBF.
Mr. McCormack said is a hugely important adjustment from a dairy farmers’ perspective. Earlier this year the Department cut the EBI co-efficient from €1.35 per unit to .50 cents per unit, a move to which ICMSA strongly objected and the re-basing of the EBI calculation would have led to a further loss for farmers had the matter not been addressed.
“ICMSA has received a commitment from the Department that the EBI co-efficient will be adjusted to take account of the rebasing of the EBI calculation and we’ll work to ensure that this adjustment ensures that farmers are fully compensated for the change and do not suffer any loss as a result. We’d like to note the Department’s commitment on this matter – we raised the point and they recognised our argument and moved to deal with the problem. It’s important to acknowledge that kind of co-operation and progress”, said Mr McCormack.