RaboBank and federal govt offer support for flood-affected farmers

The bank's group executive of country banking, Marcel van Doremaele, while the assessment of damage was still in a very early phase, farmers would be dealing with a range of issues including damage to grain and horticulture crops, as well as pasture and feed.

In addition there would be impacts on summer crop planting programs, disruptions to milking, as well as flooded sheds and damage to other farm infrastructure, machinery and access roads.

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"Added to this, there will be logistical concerns in relation to harvest and getting livestock to market," he said.

Mr Doremaele said grain farmers would be anxiously assessing the condition of winter crops.

"In Victoria, prior to the weekend's rain, the state had been on track for a record harvest," he said.

"There has been some significant impact on yields for crops in low-lying areas with many under water in parts of central and northern Victoria, although crops on rolling and rising country are better placed.

"We are going to have to wait for all the forecast rain to come through and for waters to recede to see the full impact of the rains on production."

Mr Doremaele said the bank would work directly with individual clients whose farms or agribusinesses had been affected to provide support, including deferral of scheduled loan payments, waiver of break costs on early redemption of farm management deposits, waiver of fees on loan increases necessary for rebuilding operations and waiver of fees for equipment finance contract variations.

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The federal government has also extended support for flood-affected areas in south-eastern Australia.

One-off payments of $1000 per eligible adult and $400 per eligible child are available across dozens of local government areas in Victoria and Tasmania.

Agriculture and Emergency Management Minister Murray Watt said as the full extent of the damage became more apparent, more assistance would be provided if needed.

"This is a very serious situation across multiple states and we know that there may be more communities impacted by these flooding events over the coming days," Senator Watt said.

"People are doing it really tough at the moment and that's why we've acted really quickly to try to get flood payments out the door to people to try to help them get back on their feet."

For information on eligibility and how to apply, visit the Services Australia website at servicesaustralia.gov.au/disasterevents