Riverland wine grape growers and wine producers could be eligible for low & no interest loans under a state opposition primary industry support election pledge.
They’ve announced a $300M package to support both the wine industry and drought impacted primary producers should they be elected at the March election.
Under the pledge, producers would be able to apply for loans of up to $250,000 on a maximum term of 10 years and be interest-free for the first two years, followed by an interest rate of 2.41%.
Member for Chaffey and Liberal candidate, Tim Whetstone, said primary production in his region has been pushed to breaking point.
“Chaffey has copped it from every angle,” Mr Whetstone said.
“The Fund gives growers right across our district options. It provides the capital needed to transition to more profitable varietals, alternative horticulture, new crops or whatever the market is demanding. It will also help our Mallee farmers with critical cashflow to begin recovery from the drought.
