ANZ stands ready to help farmers through drought

With parts of the country experiencing extremely dry soil, ANZ is urging farming customers to get in touch if they are struggling with their finances.

The National Institute of Water and Atmospheric Research (NIWA)’s latest Drought Index currently shows multiple parts of the country continuing to experience very dry conditions.

Those include eastern Bay of Plenty, the Gisborne District, Hawke’s Bay, Canterbury, Otago and eastern Southland, with parts of some of those areas now reaching “extremely dry” status.

While some of the affected areas have seen some rain this week, it will likely not be enough to change conditions overall.

For many farmers, the late Autumn dry spell will leave feed levels low over winter, and for some it will be the second year in a row of drought conditions – in early 2020, extremely dry conditions led the government to declare a state of drought across several areas of the country.

“ANZ stands ready to help our rural clients navigate this time - we are closely watching the situation and assessing the conditions faced by those customers,” said ANZ’s Managing Director of Business Banking Lorraine Mapu.

"ANZ understands that, for many, a second drought within such a short time will be worrying, and we also know that every little bit of support helps."

NIWA’s seasonal climate outlook for May-July this year suggests below-average rainfall is likely for many parts of the country, with long dry spells also likely to continue over the next three months.

“Often people feel that when they are under financial stress, they can’t reach out to their bank - when in fact, that is one of the most important times to get in touch with us,” said Mapu.

“Having a financial plan to help you through any tough times is really important, and your ANZ Relationship Manager should be your first port of call for advice on what we can do to help.”