Rabobank group executive Country Banking Marcel van Doremaele said the specialist agricultural bank is making contact with clients in areas impacted by excessive rainfall and devastating flooding to check on their safety and wellbeing and offer support that is required.
“In terms of agriculture, areas in northern and central Victoria are of particular concern at the moment, following the flooding and damaging rainfall over the weekend and in recent days,” he said. “The districts around Forbes and the Bogan River, around Tottenham and Nyngan, in New South Wales’ central west have also borne the brunt of recent heavy rainfall with flooding in the area and more rain forecast for coming days.
“And in Tasmania, flood waters are still to subside following record rainfall across the top half of the state last week.”
Mr Doremaele said while assessment of damage was still in a very early phase, farmers would be dealing with a range of issues including damage to grain and horticulture crops, as well as pasture and feed. In addition, he said, there would be impacts on summer crop planting programs, disruptions to milking, as well as flooded sheds and damage to other farm infrastructure, machinery and access roads.
“Added to this, there will be logistical concerns in relation to harvest and getting livestock to market,” he said.
Mr Doremaele said grain farmers would be anxiously assessing the condition of winter crops.
“In Victoria, prior to the weekend’s rain, the state had been on track for a record harvest,” he said.
“There has been some significant impact on yields for crops in low-lying areas with many under water in parts of central and northern Victoria, although crops on rolling and rising country are better placed. We are going to have to wait for all the forecast rain to come through and for waters to recede to see the full impact of the rains on production.”
Mr Doremaele said the bank would work directly with individual clients whose farms or agribusinesses had been affected to provide support and offer a range of assistance measures in applicable circumstances.
These included:
- deferral of scheduled loan payments,
- waiver of break costs on early redemption of farm management deposits,
- waiver of fees on loan increases necessary for rebuilding operations and
- waiver of fees for equipment finance contract variations.
Any farming clients who had been adversely impacted by the floods and had not yet spoken to the bank should contact their local branch or phone Rabobank on 1800 025 484.
