Dairy farmer irrigators in debt to Goulburn Murray Water
15 November 2017
The Weekly Times can reveal almost 2000 irrigators are more than four months overdue in repaying $11.98 million to Victoria’s largest water corporation.
Three hundred of those farmers owe an average of $40,000 each.
Goulburn Murray Water has reported a 43 per cent surge in overdue debt over the past two years, mainly from dairy farming irrigators battling to repay debts accumulated in the wake of last year’s milk price cuts.
Most worrying for dairy is the 300 irrigators on GMW’s books who are more than four months overdue on repaying at least $10,000 each, with the average owing about $40,000.
“A retrospective price cut by processors to the milk price paid to suppliers in April-May 2016, coupled with continuing dry conditions at the time, was a shock to customers,” GMW managing director Pat Lennon said.
Read the full article here.