The Rural Payments Agency met its December target for the Single Payments Scheme (SPS) after paying more than £1.38 billion to over 95,000 farmers.

The payments, which reached over 90 per cent of the RPA's SPS customers, represented an estimated 85 per cent of the overall fund value.

'Despite tough weather and economic conditions, we've delivered our best-ever performance this year and reached the end of December targets by the end of the first banking day of the payment window,' said Mark Grimshaw, RPA chief executive.

Farming minister David Heath praised the RPA for fulfilling their commitment to farmers.

He said: “It is the best-ever performance on the part of the RPA, which met its target for the whole of December on the first banking day. I congratulate Mark Grimshaw and his team on a really spectacular performance.”