AIB has urged farmers to contact their local branch for cashflow support as wet weather and storms cause difficulties on farms.
Difficult weather conditions have resulted in depleted fodder reserves, a delay in turning livestock out to grass and an inability of tillage farmers to plant crops.
Cashflow support will in the main be short-term in nature, and a return to normal weather and ground conditions should alleviate some of the operational and financial pressures on-farm, AIB said.
Commenting this weekend, the head of AIB’s agri, food and fishing team, Donal Whelton said:
“We are well aware of the challenges that farmers are currently experiencing on farm due to the prolonged wet weather and the impact that it has on cashflow.
“Some farmers are likely to require additional cashflow support to purchase fodder, with many more feeding higher levels of concentrates.”
Some tillage farmers didn’t get to harvest crops last year due to poor weather, and their inability to access land so far this year may impact the normal cashflow of their business, he said.
“This unseasonal weather is also impacting our agri contracting customers, reducing their normal work season and opportunities,” Whelton added.
AIB
“We are encouraging farmers who may need support to quantify the level of working capital they require and make early contact with the bank to find an appropriate solution to their circumstances.
“We fully recognise the increased workload on farm and additional stress given the unseasonal wet weather and we will work with customers on a case-by-case basis, as experience has taught us, that no one solution will suit all farms,” AIB said.