BNZ keen to work side by side with farmers

BNZ keen to work side by side with the farmers of Canterbury

The impact of the Christchurch earthquake is being felt across all the agricultural sectors of dairy, arable and dry stock.

Hundreds of farms have been affected with the areas of Darfield, Dunsandel, Te Pirita and Kaiapoi being the hardest hit.

The damage to on-farm infrastructure is extensive with immediate repairs needed to grain silos, dairy sheds, damaged fencing and irrigation across the region.

Immediately following the crisis BNZ donated $1 million dollars in relief aid and put in place a comprehensive business support package.

“We’re also keen to get on the end of a shovel” says Cameron Blain BNZ Agribusiness “straight off the bat we offered hands-on on farm help.

“Our priority has been to contact our clients individually to check on their welfare and that of their families and get an immediate understanding of what we can practically do to help.” Says Blain.

This includes offering farmers advice on how to access assistance if required for their business operations and to cover emergency seasonal funding.

As farmers head into the busy season the big unknown is how extensive the damage is to underground irrigations pumps, wells and mainlines.

“Currently around 60 % of our farmers in Central Canterbury have irrigation systems on farm, of irrigated farms around 36% are arable, 50% dairy and the balance are sheep, beef and deer.”

“A new well and pump can cost around $100K and it varies from farm to farm whether this cost will be covered by their insurers,” says Blain.

“The strong resolve of rural communities has once again been highlighted’ says Tony Arthur BNZ Head of Agribusiness.

“We’ve seen firsthand farmers working side by side jumping in and milking each other’s cows repairing damage and just helping each other out to get businesses back on their feet.”

“And we’re here if they need us with a solid customer assistance package.”

In detail BNZ is offering qualifying BNZ Partners' clients immediate temporary funding up to $0.5m at cost of funds. In addition all fees and margins waived for temporary funding.

Loan repayments can be suspended for up to 90 days and a waiver of early withdrawal costs for term deposits to enable customers to access cash for emergency purposes.

Tony Arthur says “one real concern now is fatigue setting in now for the farming community. The on-farm repairs are a hefty addition to the busy spring workload of calving, lambing, milking and crop planting.”

Our priority here is to keep close contact with clients over the coming months to offer them direct support tin whatever shape or form they may need it."

ENDS

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