Support for Farmers Impacted by Beston Closure
Source: dairynews.today
The South Australian Dairyfarmers’ Association has endorsed a $3 million government assistance program for farmers affected by the collapse of Beston Global Food.
In response to the financial struggles faced by farmers due to the collapse of Beston Global Food, the South Australian Government has established a $3 million support scheme. The South Australian Dairyfarmers’ Association (SADA) will manage this assistance program to aid farmers who were left financially vulnerable following Beston's liquidation process.
Robert Brokenshire, president of SADA, reassured affected milk suppliers that the association would assist them in submitting plans to secure the necessary funding for farm modifications, debt reduction, and other needs to rejuvenate their businesses.
This initiative aligns with the state's commitment to a viable and flourishing dairy industry as outlined in the SA Dairy Industry Action Plan 2024-2029. SA Treasurer Stephen Mullighan emphasized that the financial rescue operation stems from a severe combination of the COVID-19 pandemic and rising interest rates, which significantly contributed to Beston's financial demise.
Robert Brokenshire, president of SADA, reassured affected milk suppliers that the association would assist them in submitting plans to secure the necessary funding for farm modifications, debt reduction, and other needs to rejuvenate their businesses.
This initiative aligns with the state's commitment to a viable and flourishing dairy industry as outlined in the SA Dairy Industry Action Plan 2024-2029. SA Treasurer Stephen Mullighan emphasized that the financial rescue operation stems from a severe combination of the COVID-19 pandemic and rising interest rates, which significantly contributed to Beston's financial demise.
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