November 20, 2006

Australia to have dairy industry task force for farmers

Australia's major milk processors have been offering dairy farmers interest free loans for additional water and feed to help them through the drought.

A task force to be set up by milk processors would help farmers get access to government funding in the days of high cost and low production owing to ongoing drought. The Dairy Farmers Milk Co-operative announced shelling out nearly US$8 million in this regard.

Australia's drought could be the worst in 1,000 years, according to government officials.

Ross Greenaway from Murray Goulburn, a dairy farmers' co-operative said additional water is an integral part of their package. Those buying additional water would be offered interest free finance from the beginning of October, he elaborated.