Glanbia Co-operative Society is to make up to €20m available in an Extended Credit Scheme to assist milk suppliers overcome the severe drought now affecting the entire Glanbia region.
The scheme will support qualifying members by offering interest-free deferred payment terms for the purchase of dairy feed and fertilizer from Glanbia Ireland over the next nine weeks.
Glanbia chairman Martin Keane said that soil moisture deficits were now over 90mm in the majority of the Glanbia catchment area, with feed demand running at four to five times the rate of grass growth.
“This is placing a severe strain on our dairy farmers, who are forced to spend heavily on supplementary inputs for their herds,” he said.
The full details and an application form for the Extended Credit (EC) Scheme will be communicated to all eligible Glanbia Co-op members in the coming days.