Tuesday, 03 March 2020 10:24

Help for debt-stricken farmers

Written by  Staff Reporters
Neil Bateup. Neil Bateup.

A new initiative has been launched to provide up to $6000 worth of independent advice to farmers struggling with farm debt.

The support comes as the dry continues to bite with warnings of salt water intrusion into bores in coastal areas of drought-struck Northland and calls for river flows vigilance in the Waikato.

The government has allocated $200,000 for the Farm Business Advice Support Fund, to be managed by Rural Support Trusts.

For a qualifying farmer the fund will provide up to $6000 to pay for financial or business advice from an independent consultant. The National Council of Rural Support Trusts and New Zealand Bankers’ Association have recently signed the agreement for the fund.

The Rural Support Trusts will provide up to $3000, depending on an assessment of need, and the relevant bank will match that dollar for dollar.  

Rural Support Trust national council chair Neil Bateup says the fund is for a farmer who is feeling pressure. 

“This might be because there’s been some change or their bank has indicated they need to discuss their debt situation. The hope is that there may still be options available so that the wishes of all parties can form a solution for going forward.”

New Zealand Bankers’ Association chief executive Roger Beaumont says there is a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans. 

“This will inform conversations between the farmer and their bank.”

Rural Support Trusts will take an application from, or on behalf of, a farmer who might qualify for assistance. The consultant will provide a report, which will be given to the farmer and their bank.

This initiative involves New Zealand’s main rural lenders, including ASB, ANZ, BNZ, Heartland Bank, Rabobank, SBS Bank, TSB and Westpac. 

Meanwhile the dry continues to bite. 

In the Waikato the regional council is reminding all resource consent holders of water takes to carefully check their consent conditions and comply with low flow restrictions.

Most rivers and streams in Waikato River catchments are experiencing low flow conditions and flows are expected to keep dropping under the current dry (drought) conditions. 

DairyNZ is advising in the Waikato that regardless of rainfall now, there will be a long haul until pasture covers rebuild. 

It is useful to reassess the situation weekly, including feed budgeting to ensure farmers are on track to meet pasture and condition score targets by May 31. 

Since there has been some rain, monitoring of facial eczema spore counts is advised and ensuring appropriate treatments are in place. 

Good financial management for farmers is important with all business partners communicating and focused to keep to budget to achieve goals.

More like this

Helping our youth to be resilient

OPINION: The Rural Support Trust ran a dinner and debate at the National Fieldays last month. In tables of 10, over 540 people were wined and dined, including the Prime Minister, supported by ministers from around the country.

Flood-hit Tasman farms begin long recovery

People affected by the recent two severe flood events in the Tasman district are weary and exhausted trying to deal with the devastation on their farms and orchards, according to the head of the Rural Support Trust (RST) in the region.

Featured

Owl Farm marks 10 years as NZ’s first demonstration dairy farm

In 2015, the signing of a joint venture between St Peter's School, Cambridge, and Lincoln University saw the start of an exciting new chapter for Owl Farm as the first demonstration dairy farm in the North Island. Ten years on, the joint venture is still going strong.

National

Machinery & Products

New McHale terra drive axle option

Well-known for its Fusion baler wrapper combination, Irish manufacturer McHale has launched an interesting option at the recent Irish Ploughing…

Amazone unveils flagship spreader

With the price of fertiliser still significantly higher than 2024, there is an increased onus on ensuring its spread accurately at…

» Latest Print Issues Online

Milking It

The real emergency

The nutters of the green world, aided and abetted by the lamestream media, are rewriting the English language for the worse.

A very low road

OPINION: The self righteous activists at Greenpeace are copying the self-righteous lefties behind the ‘free Palestine’ movement – not surprising given…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter