Muller says farmers are providing some much-needed stability to the economy otherwise suffering from Covid-19.
He says banks can support the economy by looking at new ways to support farmers amid the pandemic.
“Our food producers are critically important in times like this. No matter how challenging the global environment, people need to eat and our superb farming families give us a competitive advantage and the capacity to trade ourselves out of a recession,” says Muller.
“While red meat and dairy exports remain strong, the effects of drought are continuing to hammer farmers and many are struggling to pay the bills.
“I think our banks should provide these farmers with some assistance by allowing overdraft extensions. Working capital is vital for farmers to be able to keep their stock in good condition to enable them to maintain strong levels of production next season.
“It’s important for the entire country that our primary sector remains in good health. It is a vital part of our economy and New Zealand needs it to perform to weather this crisis.”
