A support package worth over £1.2 million has been announced for Northern Irish sheep farmers following the unprecedented crash in the global market for wool as a result of the COVID-19 pandemic
Announced by the NI government, the scheme will provide a big relief to producers affected by poor wool prices over the past year.
The Department of Agriculture, Environment and Rural Affairs (DAERA) said it recognised the financial impact that the sector had suffered due to downturn in the wool market.
“To offset the losses incurred in their returns from wool sales, I am pleased to announce £1.27 million support from the Covid-19 fund. This financial support will compensate for losses incurred and encourage farmers to value the wool that they produce as it is a sustainable natural product that has wonderful potential in many different product areas,” Agriculture Minister Edwin Poots said.