CASHFLOW DIFFICULTIES HITTING AS FODDER CRISIS CONTINUES TO PUMMEL FARMERS

12 APRIL 2018

ICSA president Patrick Kent has said he is disappointed that Minister Creed is not moving heaven and earth to introduce a low interest loan scheme for farmers. “Cashflow difficulties are crucifying cattle and sheep farmers who have used up all their credit facilities at this point.” Mr Kent made his comments following a meeting with Minister Michael Creed in Agriculture House today (12 April).

Continuing Mr Kent said, “The latest advice from Teagasc is to get fertiliser out as soon as possible. However, they are failing to understand the true extent of the precarious position many farmers are in. These are farmers who don’t receive a monthly cheque and with credit limits already overshot buying in meal, many are unable to secure credit for fertiliser supplies.”

“Small and medium sized farming enterprises have an immediate need for working capital. ICSA has impressed upon Minister Creed that working capital of up to €10,000 for as many farmers as possible demands urgent consideration if farmers are to have any chance of coming out of this crisis in one piece.”

ENDS