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Agriculture

Farmers urged to talk to their financiers

───   SABRINA DEAN 15:44 Thu, 04 Feb 2016

Farmers urged to talk to their financiers  | News Article

Bloemfontein - Agri-business NWK is urging its clients to make contact to find out if there are any ways in which the company can help them weather the financial pressures caused by the drought.

This as NWK announces the possibility of actions including production debt postponements and consolidation of producer debt.

Managing Director Danie Marais told OFM News farmers in the region are grappling with a lot more than just the 2015 drought impact.

“To put that into perspective – if we look at the previous season, we only received about 50% of the grain we would have received in a normal harvest year. That on its own indicates there is a genuine financial crisis.”

He is urging producers to contact their financiers earlier rather than later. He says from NWK’s side, possible interventions will be evaluated on a case by case basis and will need to comply with National Credit Act legislation.

On the upside, he says the January rains have resulted in much higher planting rates of maize and sunflower within the NWK service area. However, the late plantings increase risks.

“Maize plantings are at about 80% and sunflower is at more than 100% of what was anticipated. But, I think we also need to place this in perspective. Our optimal planting window is prior to the end of December.

“A large percentage of the plantings happened after this which then increases the risks in terms of yield.”


Sabrina Dean/OFM News


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