Pre-season cash injection for cane growers
Special deal offers Wilmar Sugar growers pre-season cash injection
CANE growers in the Herbert and Burdekin have the option of a pre-season cash injection with Wilmar Sugar offering an exclusive advances option to growers for the second year.
Wilmar announced the interest rate for its Pre-season Payment this week, when nominations opened for the 2018 season.
Grower Pricing Manager James Greenwood said Pre-season Payment was first introduced in 2017 in response to grower feedback.
“With our Pre-season Payment option, growers can receive payment in March for up to $5/tonne of cane at a competitive fixed interest rate of 3.50 per cent,” Mr Greenwood said.
He said it was designed to put money in growers’ hands before the crush, often when they need it most.
“Many growers told us they often have additional costs before the season – such as planting, spraying, maintenance and field preparation – and that having access to cash flow at this time would really help their business during the crush.
“Growers may think about comparing our fixed interest rate with their own overdraft to see if nominating for Pre-season Payment could help reduce their costs.
“As always, we recommend growers speak with their financial advisor when considering what’s right for them.”
Payments for 2018 will be distributed on March 15 and then recovered as a priority from growers’ payments once they start delivering cane to mills in the 2018 crush.
Growers who chose Wilmar as their Grower Economic Interest (GEI) Marketer for the 2018 season can nominate for Pre-season Payment via Wilmar’s GrowerWeb. Nominations close on February 28.
Growers can find out more about Wilmar’s available payment options in grower education sessions being held in February.
Information sessions will be held for Plane Creek growers on Thursday, February 8, Herbert on Tuesday, February 13, Burdekin on Wednesday, February 14 and Proserpine on Friday, February 16.
To attend or for more information call James Greenwood on 0428 195 206.