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National banks are reaching out to the Department of Agriculture (DAFM) for advice on facilitating future finance to dairy farmers, the Farming Independent understands.
Sources confirmed the move saying that banks are “getting worried” about pressures mounting on the dairy sector to “stabilise the herd”.
It follows months of high-level talks on increased environmental measures for dairying under the next Nitrates Action Programme, due to commence in January 2022, to tackle rising emissions and deteriorating water quality issues in some counties that have experienced localised intensification since the abolition of quotas in 2015.
Sources said: “Farmers are doing up business plans on the basis of ‘x’ number of cows and volume of milk. They are getting ready to sit down with their bank on the basis of those plans and they are ringing us because they need to know what is coming down the line.