The European Commission has previously confirmed a new package of measures including an EU wide scheme to incentivise a reduction in milk production worth 12p/litre.
The final details of the voluntary scheme are potentially to be announced following a meeting in Brussels on 25 August.
The compensation of 12p/litre will be paid to producers on the basis they commit to reducing production compared with last year over a three month period.
There could be four tranches of funding to cut production from 1 October – 31 December 2016.
Applications will have to be submitted by 19 September 2016, on the RPA website using a form accompanied by written proof of 2015 production, such as milk cheques.
This is on a first come, first served basis and those farmers interested should prepare as soon as possible to submit an application.
Tony Rimmer of Rostons stated “some producers have cut back production and could be eligible already – welcome news for those in that position”.