The Queensland Rural Adjustment Authority (QRAA) had received an influx of applications for low-interest loans to help producers re-stock, replant and revitalize their farms according to Agriculture Minister Leanne Donaldson.
“QRAA received $75 million to support new lending under the Drought Concessional Loans Scheme and the Drought Recovery Concessional Loans Scheme and funds are still available.”
“And with interest rates at a record low of 2.66%, and up to $1 million available under each scheme for eligible farmers, the best advice is to contact QRAA without delay.”
Minister Donaldson says that while Local Drought Committees would not meet to make recommendations on drought status until April, the unexpected and widespread rain in western Queensland had resulted in around 30 producers revoking their drought status.
“Some graziers are looking at the rain gauge and their dams and deciding it is time to restock or revoke their drought status.” the Minister said.
The Minister says any producer who wishes to start restocking and wishes to access government assistance with the freight costs of restocking should contact the Department of Agriculture and Fisheries first to obtain an individual drought revocation.
Graziers do not need to gain a drought revocation to apply for a loan from QRAA.
Eligibility conditions apply and for more information visit www.qraa.qld.gov.au or contact QRAA on Free call 1800 623 946.
For those graziers who revoke their drought status the Queensland Government’s Drought Relief Assistance Scheme provides a 75% subsidy to help with the cost of transporting livestock purchased for restocking.