New cashflow programme will help dairy farmers to manage their income – Deering

24th June, 2016

Fine Gael TD for Carlow/Kilkenny, and Chair of the Oireachtas Committee on Agriculture, Food and the Marine, Pat Deering has said that a new cashflow tool launched by the Minister for Agriculture, Michael Creed, will be of great assistance to dairy farmers.

“To coincide with this week’s meeting of the dairy forum, the Minister for Agriculture, Food and the Marine, Michael Creed launched a new cashflow tool that will be of great assistance to dairy farmers.

“This initiative involves a programme of cash flow and financial management training and advice for dairy farmers, run in collaboration with Teagasc.

“The programme comprises three main elements. Firstly, the publication of a booklet entitled ‘Cash Flow & Financial Management on Dairy Farms’. This will issue to all dairy farmers shortly from their co-op, along with their monthly milk cheque.

“Secondly cash flow training is to be incorporated in an upcoming programme of dairy farm walks in each of the Teagasc regions, where advisors will be on hand for one-to-one consultations and referrals.

“Thirdly, a 15-20 minute cash flow training module will be developed, with the intention that it be delivered to dairy farmers at any stakeholder meetings held by Dairy Forum participants.

“This dairy cashflow programme will run in conjunction with the existing Teagasc ‘Get Farm Financially Fit’ engagement and I have no doubt it will be of great assistance to dairy farmers in helping them manage their income.

“Fine Gael in Government is committed to supporting dairy farmers, who have had a tough few years with price volatility. Minister Creed has pointed to the kinds of supports that might help solve the issues, such as fixed price and margin contracts, futures markets and access to finance and flexible forms of credits. The Minister confirmed to me that he has met bank CEOs in relation to this and encouraged flexibility and forbearance for dairy farmers experiencing difficulties due to income volatility”.