Skip to main content
Financial Assistance Hub

Concerned dairy farmers encouraged to contact their bank

25 May 2016

Sydney, 25 May 2016: Banks are supporting dairy farmers impacted by the sudden changes to their businesses with the recent reduction in farm gate milk prices, the Australian Bankers’ Association said today.

“Changes to farm gate prices have come at a time when many dairy farmers are experiencing the effects of ongoing drought and increased business costs,” ABA Executive Director – Retail Policy Diane Tate said.

“This can present some significant challenges for income and cashflow. We strongly encourage dairy farmers who are concerned about their financial situation to contact their bank – the earlier the better – to see what help is available,” she said.

“Banks understand that the agriculture industry is heavily impacted by seasonal factors and price fluctuations. 

“That’s why banks take a longer-term view in agricultural lending. They work with farmers who may be experiencing financial difficulties and can put in place special loan arrangements,” Ms Tate said.

The type of assistance offered will depend on individual circumstances, but may include:

  • A deferral of scheduled loan repayments
  • Waiving fees and charges
  • Interest free periods or no interest rate increases, and
  • Debt consolidation to help make repayments more manageable.

ENDS

Contact: Stephanie Arena 0477 470 677 or Nic Frankham 0435 963 913

@austbankersbankers.asn.au

Latest news

1 / 3
Media Releases
Banks welcome more progress to modernise payments system rules
9 October 2025

The ABA welcomes today’s release of the exposure draft legislation to modernise the regulation of payment service providers. ABA CEO Simon Birmingham said the proposed reforms represent another important step towards ensuring Australia’s payments system remains safe, secure and fit-for-purpose. “Australians now have access to a range of payment options and no matter how they… Read more »

Read more
Media Releases
Finalisation of independent pricing model report to support cash distribution
3 October 2025

Deloitte Access Economics has now determined its recommended regulated pricing model for Armaguard’s Cash-in-Transit services. The final independent pricing mechanism report has been provided to Armaguard as well as the major banks and major retailers.  This is an important milestone in working to keep cash available around Australia, even while people are using less of… Read more »

Read more
Transcript
ABA CEO Simon Birmingham transcript of interview on ABC RN Breakfast with Sally Sara
24 September 2025

E&OERadio InterviewABC RN Breakfast with Sally SaraWednesday, 24 September 2025. Sally Sara (Host): Reserve Bank Governor Michelle Bullock has hit out at Australia’s big four banks for standing in the way of making shopping cheaper for customers. The RBA wants to ban surcharges on card payments. To fund the ban, it wants to dramatically cut… Read more »

Read more