Farmers given six days to pay debts

Farmers voicing their unhappiness over EU dairy poilcy in Dublin. It now appears dairy farmers are facing yet further woes - with the news that one of Ireland's major milk processors gave farmers just six days to repay their debts

The 2009 collapse in dairy incomes has hit farmers hard, says the IFA - exacerbated by a major milk processor last month allowing just six days to repay debts

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Farmers were given just six days to repay their debts by one of the country’s major milk processors last month.

Speaking about the cash crisis affecting many farms, James Kane, chairman of the IFA Farm Business Committee, said some dairy farmers were in a “desperate state.” He added more than 90% of those in financial difficulty were never in trouble before but were now suffering because of the collapse in dairy incomes in 2009.

He also claimed in the Irish Independent, that some agricultural contractors were demanding payment up front because of payments still outstanding since last year.

Agri-merchants and milk processors were also pursuing payment of outstanding debts and farmers were being contacted by debt collectors for one of the major milk processors and given six days to pay up in full, he said.

However, after speaking with all major banks, Kane said the IFA had been assured there was money available for farmers.

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