LIVESTOCK SA president Geoff Power says South East farmers remain frustrated by the “low success rate” of the federal government’s drought loan packages, especially after seeing more success in Vic.
But Mr Power welcomed the Drought Recovery Loan Scheme announced last week, saying it should be a perfect fit for the SE.
“Farmers need this to get back into production as soon as possible after two very dry years,” he said. “A rate of 2.71pc for 10 years and interest only for five years is a good deal, but they have to be able to access them.”
Mr Power also called on the state government to offer drought-affected SE farmers more financial rather than just “in kind” support. The Vic government has provided more than $30 million for its farmers, but SA has not disclosed the monetary value of its package.
“We are talking about an important food bowl in SA,” Mr Power said. “They have, as a government priority, an emphasis on food and fibre, so they need to do more to protect it and quickly.”’
