THE CABINET IS due to sign off on a new Common Agicultural Policy (CAP) for farmers worth close to €10 billion later this morning.

The €9.8 billion fund will cover a five-year period beginning in January of next year.

According to the European Commission, the CAP aims to “provide a decent standard of living for European farmers and agricultural workers”, as well as a “stable, varied and safe food supply for the citizens of all member states”.

It is made up of two “pillars”.

The first pillar is made up of direct EU payments, while the second pillar is support payments issued for carrying out specific actions related to rural development.

Pillar II is made up of national and EU funding and the next CAP will contain record national exchequer funding.

For the first time, there will be specific measures to support female farmers.

There will also be increased payments for organic farmers, suckler farmers and tillage farmers.

Meanwhile, the Department of Agriculture says the incoming CAP has the “highest ever level of environmental ambition”.

It includes a €1.5 billion agri-environmental scheme called the Agri Climate Rural Environment Scheme (ACRES), which will pay farmers up to €10,500 each.

ACRES is available to farmers in “high priority geographical areas” who undertake measures to improve biodiversity, climate, air and water quality outcomes.