Dáil Éireann Debate, Tuesday - 24 July 2018
1943. Deputy Niall Collins asked the Minister for Agriculture, Food and the Marine his discussions with the banks to seek a facility for farmers to pay interest only on bank debt due to cashflow issues which will arise from the recent drought and bad winter weather; and if he will make a statement on the matter. [34030/18]
Amharc ar fhreagraThe Fodder Coordination Group met last Thursday. It is made up of stakeholders such as the co-operatives, feed compounders, banks and farm representative bodies. After the meeting I acknowledged the ongoing efforts of the Group and the work its members are undertaking to mitigate the effects of the current dry period on grazing and fodder supplies. The Group has met three times since the onset of the dry weather and the practical advice being shared across the group, on dealing with the current weather and filling the fodder gap that has now been identified, is critical to our management of the situation.
Given the need for a collective approach, I am urging everyone to support and participate actively in the ongoing efforts. In this regard I emphasised the positive role for industry and banking representatives on the Fodder Group. I welcome recent initiatives both by Glanbia and Dairygold in relation to credit facilities for their suppliers and am urging others to consider similar measures.
I liaise regularly with the main banks on issues relating to the agri-food sector, all of whom have announced specific supports for their farming customers in response:
- Bank of Ireland has announced a “Drought Support Package”.
- Ulster Bank has announced a “Weather Agri Fund”.
- AIB has announced “Working Capital Support”.
I and my Department will continue to engage with the banks on this issue.
