Tasmanian farmers welcome access to loan pool

The Tasmanian Farmers and Graziers Association welcomed the State Government’s announcement today of a $10 million low interest loan scheme to assist primary producers to develop their businesses, particularly in the early years.

President Wayne Johnston said the TFGA had suggested the scheme in the light of the difficulties many farmers face in funding their businesses in the start-up years before they reach full economic production.

“This applies to many areas of agriculture, but particularly horticulture, where you plant out your crops but you have to wait until they reach the stage at which they start to bear fruit. Grape vines and hazelnuts are prime examples,” Mr Johnston said.

“These loans, which are all repayable, will also assist farmers who want to take advantage of new irrigation infrastructure to optimise their production but find themselves stretched for capital.”

The government’s pilot program starts next financial year with a $10 million loan pool and is part of the AgriVision 2050 plan to increase the annual value of agriculture to $10 billion by the year 2050.
TFGA president Wayne Johnston