Friday, 16 January 2015 10:52

Bank gears up for drought support

Written by 

Farmers in South Canterbury and North Otago will feel the financial crunch of the drought-like conditions shortly, with Westpac gearing up to assist its hardest hit customers in the regions.

 Without rain over the next couple of weeks it seems inevitable that large parts of the South Island will become drought zones.

Westpac's head of agribusiness Mark Steed says the bank is preparing to assist its customers who are doing it tough in the regions.

"We're hearing that some areas south of Timaru have had less than 100ml of rain since June. It is so dry that some stock is being fed grain on dirt with no feed in sight," Steed says.

"The rivers are running very low, with some areas running out of stock water, and farmers are starting to feed-out supplementary feed which is hugely expensive at this time of year. Dry-land dairy farmers have dried off some cows and are looking to fully dry off if we don't get rain in the next month or two."

Steed says this will create potentially dire financial effects as stock conditions take a hit.

"If significant rains don't come there will be a potential shortage of winter feed with majority of dry-land crop yields around South Canterbury significantly back. In fact, in many cases winter feed crops that were sown late haven't struck, a feed shortage will potentially push price of feed up, which under current circumstances is a concern for many farmers."

Steed says it was crucial farmers kept in contact with their bank and other professionals so they could plan for the coming months. Westpac is committed to supporting its customers through the cycles and times of adversity.

"We've already spoken to a number of our customers and we would urge any other affected farmers to get in touch so we can work out the best solution for their circumstances. Our bankers are able to make immediate decisions on the ground."

These types of circumstances are stressful for farmers. Westpac ambassador Sir John Kirwan has conducted a number of workshops in rural areas over the last year. More workshops are planned in 2015.

Farmers who are physically isolated can use some of the resources Sir John Kirwan has put together on www.depression.org.nz/rural.

More like this

Marlborough drought declaration welcomed

Marlborough Federated Farmers has got some real concern about the mental wellbeing of farmers and their families in the region because of the drought and there’s a lot of pressure starting to build.

Drought classification welcome news - Feds

Federated Farmers Marlborough Province says it welcomes the announcement yesterday that current dry weather in the top of the South Island would be classified as a medium-scale adverse event.

Featured

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

Editorial: Passage to India

OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.

National

Knowing bugs means fewer drugs

A mastitis management company claims to deliver the fastest and most accurate mastitis testing available at scale for New Zealand…

Machinery & Products

100 years of Farmall Tractors

Returning after an enforced break, the Wheat and Wheels Rally will take place on the Lauriston -Barhill Road, North-East of…

JD unveils its latest beast

John Deere has unveiled its most powerful tractor ever, with the launch of the all new 9RX Series Tractor line-up…

Biggest Quadtrac coming to NZ!

In the biggest announcement that Case IH Australia/New Zealand has made around its tractor range, its biggest tractor is about…

A different shade of blue for Norwood

Norwood and ARGO Tractors, the Italian manufacturer of Landini and McCormick tractors, have announced an agreement that gives Norwood exclusive…

Kubota tests diesel engines

Kubota last month used the UK LAMMA Show to test the water with its new 200hp, four-cylinder 09-series diesel engines.

» Latest Print Issues Online

The Hound

Why?

OPINION: A mate of yours truly wants to know why the beef schedule differential is now more than 45-50 cents…

Fat to cut

OPINION: Your canine crusader understands that MPI were recently in front of the Parliamentary Primary Sector Select Committee for an…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter