Glanbia Co-Op has announced it will increase funds allocated to its Extended Credit (EC) Scheme to €30m. The eligibility criteria have also been broadened to include fodder catch crops as well as beef and sheep farmers that are existing customers.
Under the scheme, qualifying members of the co-op are offered interest-free deferred payment terms for the purchase of inputs from Glanbia Ireland.
Dairy farmers that missed the original deadline for applications can now apply to participate by a closing date of 31 August. Meanwhile, seed and fertiliser purchased by members for producing catch crops now qualify.
The funding for this EC Scheme is being provided to Glanbia Ireland by Glanbia Co-op. The scheme will be operated by Glanbia Ireland. Any farmer interested in participating in this scheme is advised to contact their local Glanbia Ireland representative.
To qualify for the Beef and Sheep Extended Credit Scheme, customers must meet the following criteria:
Be Glanbia Co-op members.Have purchased a minimum of €5,000 worth of feed and or fertiliser from Glanbia Ireland over the 12 month period August 2017 to July 2018.Qualifying purchases for the Beef and Sheep Scheme are all feed and fertiliser purchased from Glanbia between the period 13 August to 13 October.For an individual farmer, the amount of available credit is set at a maximum of 20% of the applicant’s last 12 month purchases of qualifying products.Repayment will be made over the three months of October 2019, April 2020 and October 2020 in equal instalments.Sign up to a direct debit from their bank mandating the required repayment.Participation in this scheme is subject to credit assessment and individual limits.EC Scheme
The key terms of the EC Scheme for Dairy farmers announced on 13 July were:
Glanbia Co-op members who supply milk to Glanbia Ireland can apply to avail of interest-free deferred payment terms on qualifying purchases made from Glanbia Ireland.The scheme will cover 16 July to 15 September purchases of (1) all dairy compound feeds and dairy coarse rations including eligible straights* and (2) fertiliser products for grassland.Purchases made under the scheme will be paid for by deduction from the supplier’s milk account in six equal instalments in July, August and September of 2019 and 2020.No interest will be charged by Glanbia Ireland on the deferred payments.Eligibility is confined to Glanbia Co-op members in the Republic of Ireland with a valid milk supply agreement with Glanbia Ireland.Qualifying members will be required to sign a payment instruction committing to the deferred payment for qualifying purchases under the EC scheme.Participation in this scheme is subject to credit assessment and individual limits. Read more
Farm organisations seek help in EU-wide drought
Glanbia Co-Op has announced it will increase funds allocated to its Extended Credit (EC) Scheme to €30m. The eligibility criteria have also been broadened to include fodder catch crops as well as beef and sheep farmers that are existing customers.
Under the scheme, qualifying members of the co-op are offered interest-free deferred payment terms for the purchase of inputs from Glanbia Ireland.
Dairy farmers that missed the original deadline for applications can now apply to participate by a closing date of 31 August. Meanwhile, seed and fertiliser purchased by members for producing catch crops now qualify.
The funding for this EC Scheme is being provided to Glanbia Ireland by Glanbia Co-op. The scheme will be operated by Glanbia Ireland. Any farmer interested in participating in this scheme is advised to contact their local Glanbia Ireland representative.
To qualify for the Beef and Sheep Extended Credit Scheme, customers must meet the following criteria:
Be Glanbia Co-op members.Have purchased a minimum of €5,000 worth of feed and or fertiliser from Glanbia Ireland over the 12 month period August 2017 to July 2018.Qualifying purchases for the Beef and Sheep Scheme are all feed and fertiliser purchased from Glanbia between the period 13 August to 13 October.For an individual farmer, the amount of available credit is set at a maximum of 20% of the applicant’s last 12 month purchases of qualifying products.Repayment will be made over the three months of October 2019, April 2020 and October 2020 in equal instalments.Sign up to a direct debit from their bank mandating the required repayment.Participation in this scheme is subject to credit assessment and individual limits.EC Scheme
The key terms of the EC Scheme for Dairy farmers announced on 13 July were:
Glanbia Co-op members who supply milk to Glanbia Ireland can apply to avail of interest-free deferred payment terms on qualifying purchases made from Glanbia Ireland.The scheme will cover 16 July to 15 September purchases of (1) all dairy compound feeds and dairy coarse rations including eligible straights* and (2) fertiliser products for grassland.Purchases made under the scheme will be paid for by deduction from the supplier’s milk account in six equal instalments in July, August and September of 2019 and 2020.No interest will be charged by Glanbia Ireland on the deferred payments.Eligibility is confined to Glanbia Co-op members in the Republic of Ireland with a valid milk supply agreement with Glanbia Ireland.Qualifying members will be required to sign a payment instruction committing to the deferred payment for qualifying purchases under the EC scheme.Participation in this scheme is subject to credit assessment and individual limits. Read more
Farm organisations seek help in EU-wide drought
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