BANKS MUST SUPPORT FARMERS WITH SUPERLEVY BILLS

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BANKS MUST SUPPORT FARMERS WITH SUPERLEVY BILLS
28 Mar 2012

BANKS MUST SUPPORT FARMERS WITH SUPERLEVY BILLS

Dairy

IFA National Dairy Chairman Kevin Kiersey has called on banks to stick with their dairy farmer clients who may experience cash flow difficulties this year as a result of a superlevy bill.
Kevin Kiersey said: “Some of the farmers affected may have exceeded their quota by moderate amounts, but have received little or no benefit from fleximilk in this year of exceptionally strong milk production. Some may have had their herds restricted with TB, and fared poorly from this year’s Milk Quota Appeals Tribunal’s temporary milk quota allocations.”

“All will need support from their banks to facilitate cash flow and avoid financial situations which could be damaging to their long term profitability.”

“Banks must be receptive to their over-quota dairy farmer clients and work with them to facilitate superlevy bill payments over the coming months,” he concluded.

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