Glanbia Co-operative Society is to increase the funds allocated to its recently-announced Extended Credit Scheme to €30 million and has broadened the eligibility criteria to include fodder catch crops and beef and sheep enterprises.

The Glanbia Co-op Extended Credit Scheme supports qualifying members by offering interest-free deferred payment terms for the purchase of inputs from Glanbia Ireland.

Glanbia Group chairman Martin Keane confirmed that the initial €20 million Extended Credit Scheme for dairy farmers announced on July 13 was over-subscribed at the application closing date of August 3.

He said: “As a result of the very positive response and the ongoing fodder supply challenges being faced by Members, the board of Glanbia Co-op has today decided to increase the funds allocated to the scheme from €20 million to €30 million.”

The full terms and conditions and an application form for the Extended Credit Scheme for Beef and Sheep farmers will be communicated to all eligible Glanbia Co-op members in the coming days.

Technical information meetings

Glanbia last week completed a series of well-attended technical information meetings at six locations. In response to farmer demand, additional meetings will be held next week – venues will be advertised on Glanbia Connect and farmers notified.

Funding and delivery

The funding for this EC Scheme is being provided to Glanbia Ireland by Glanbia Co-op. The scheme will be operated by Glanbia Ireland. Any farmer interested in participating in this Scheme should contact their local Glanbia Ireland representative.