Banks in NI are confirming that they recognise the impact of the continuing bad weather on farm cash flows.
Ulster Bank agricultural manager, Cormac McKervey said: “There are financial pressures coming on numerous farm businesses at the present time.
“Increased challenges, caused by bovine tuberculosis, are also adding to the economic pressures faced by many farms at the present time.
“Up to now very little slurry or fertiliser has been put on to land with turnout significantly delayed.”
Banks in NI
According to McKervey, the banks fully recognise that the weather is outside the control of local farmers.
However, the Ulster Bank representative was also keen to strike a more upbeat perspective looking ahead.
“A few days of good weather can quickly change the mood and the circumstances within a farming business at this time of the year,” he concluded.
Meanwhile, Ulster Farmers’ Union (UFU) president, David Brown, is also highlighting the impact of the recent heavy rains on farm cash flows.
He said: “The level of rainfall across Northern Ireland has made it impossible to move livestock. Planting and sowing is way behind, and bills are mounting as farmers struggle to keep on top of their work.
“April is seen as a turning point in the farming calendar, but currently, that is certainly not the case. The ground is saturated due to wet conditions that stretch back to the middle of last year.”
£We are urging everyone in the banking sector who interacts with farmers, to take this into account and to give whatever support they can.
“It is no secret that banks have made profits in recent years while farmers are doing their best to stay afloat. Banks have the power to apply leniency for anybody who’s battling to meet repayments and they need to step up for farmers.”
According to the UFU president, weather conditions cannot be controlled however, ensuring fairness is applied throughout the supply chain can make a big difference for farm businesses.
“Many farmers operate as sole traders. It’s critical, therefore, that every pound that’s in the marketplace makes its way back to farmers,” he added.