MORE than £157.8m was received by 15,500 Welsh farm businesses across Wales as Basic Payment Scheme (BPS) 2024 advance payments hit farm bank accounts this week.

More than 96% of claimants received a BPS advance on 14 October, worth approximately 70% of their estimated claim value.

Rural Payments Wales (RPW) continues to make advance payments beyond this date, as individual BPS claims become eligible for an advance. Full and remaining balance BPS 2024 payments will be made from 12 December, subject to full validation of the BPS claim.

It is expected all but the most complex BPS claims to be fully validated, and payments made before the end of the payment window on 30 June 2025.

The Deputy First Minister with responsibility for Rural Affairs, said: “I am pleased that thousands of farms across Wales have now had the BPS advance payments for 2024.

"I hope this gives farming businesses and families across Wales reassurance and stability for the year ahead, as we continue working towards a Sustainable Farming Scheme for the future Rural Payments Wales will be working hard to ensure full and remaining balance payments are made as early as possible once the payment window opens in December.”

NFU Cymru has welcomed the news.

NFU Cymru President Aled Jones said: “I warmly welcome the announcement from the Deputy First Minister, Huw Irranca-Davies MS, that 70% of BPS advance payments have been made to the vast majority of farmers in Wales. "This support will be a major boost for the cash flow of more than 15,500 Welsh farmers, along with the allied industries who rely on farmers for so much of their income.

“I would like to recognise the work of the staff at RPW for ensuring that this support has been delivered, and to all those who support farming businesses with the completion of the Single Application Form by the May deadline date.

“We welcome the maintenance of the BPS budget for 2024, providing much needed stability and certainty to a sector that has faced a turbulent year. In May we applauded the sensible and pragmatic approach taken by Huw Irranca-Davies MS to maintain the BPS for 2025, the importance of maintaining the BPS budget for 2025 cannot be overemphasised.

“It is important to recognise that the budgets for agriculture remain at levels established a decade ago and, in that time, have not been adjusted for inflation. NFU Cymru believes that Welsh farming now needs a minimum budget of £500 million annually to take account of inflation and to help ensure that our ambitions in relation to food, climate, nature and communities can be met."