Current milk prices are not covering production costs on many dairy farms across NI. \ Ramona Farrelly
ADVERTISEMENT
One of the major banks in NI has said it has not changed its policy on lending money to dairy farmers.
Reports have been circulating that several local dairy farmers were not successful in securing extra credit from Danske, but were able to get loans from other banks in NI.
“We remain committed to the dairy and other farming sectors and we are still lending,” Rodney Brown from Danske Bank said.
ADVERTISEMENT
“Our lending decisions are always based on the ability of the customer to re-pay. This is based on analysis of cashflow over several years and not just one year,” he added.
Danske’s head of agribusiness said that uncertainty relating to Brexit was not affecting lending decisions.
“We are looking at the wider economy and expect economic growth to remain modest, but that is not specific to the
agriculture industry,” Brown said.
Reports indicate that current milk prices are not covering production costs on many dairy farms across NI and additional borrowing to address cashflow difficulties is becoming more common.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
One of the major banks in NI has said it has not changed its policy on lending money to dairy farmers.
Reports have been circulating that several local dairy farmers were not successful in securing extra credit from Danske, but were able to get loans from other banks in NI.
“We remain committed to the dairy and other farming sectors and we are still lending,” Rodney Brown from Danske Bank said.
“Our lending decisions are always based on the ability of the customer to re-pay. This is based on analysis of cashflow over several years and not just one year,” he added.
Danske’s head of agribusiness said that uncertainty relating to Brexit was not affecting lending decisions.
“We are looking at the wider economy and expect economic growth to remain modest, but that is not specific to the
agriculture industry,” Brown said.
Reports indicate that current milk prices are not covering production costs on many dairy farms across NI and additional borrowing to address cashflow difficulties is becoming more common.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS