The Regional Secretariat for Agriculture and Forestry has recently approved six projects under the Incentive Scheme for the Purchase of Agricultural Land (RICTA).
This support scheme mainly aims to purchase land for reparcelling through preferential interest rates and the allocation of a non-refundable subsidy in the amount of the purchase. It also comprises the purchase of land by farms in the category of tenants, joint owners, owners of enclosed or adjacent land through a preferential interest rate.
The approved projects (one on São Miguel, three on Terceira, one on Graciosa and one on São Jorge) correspond to a preferential interest rate on the investment amount of 555 thousand Euros and the allocation of a non-refundable subsidy of nearly 18 thousand Euros for the purchase of an overall area of 35 hectares.
With regard to the Incentive Scheme for the Purchase of Land (SICATE), a support tool that was in force until 2008, it is important to mention that 159 applications were approved ion eight islands, of which 139 remain active. Under this incentive, farmers have acquired of 776 acres of agricultural land.
Under RICTA, which has been in force since 1998, 26 applications have already been approved on six islands by May 2010, which has allowed the acquisition133 hectares of land by farmers.
This measure, in conjunction with early retirement, has enabled the rejuvenation of agricultural assets, the reparcelling as well as the resizing of farms.
Increasing the competitiveness of farms by supporting agricultural parcelling and the resizing of farms continues to be one of main priorities of the Azorean Government insofar as land ownership is an important factor of economic and social stability of farms, which significantly contributes to the implementation of structural measures to modernise farms and improve production levels.