Farm Debt Mediation use increasing as farmers' finances squeezed

88 mediations had been completed up to the end of February this year. (Image: Getty)

Tue, 02 Apr 2024

The use of the now compulsory Farm Debt Mediation Scheme is ticking up as farmers face significant pressure with low commodity prices.Under the scheme, which aims to “promote the long-term viability and resilience of farm businesses”, secured creditors must offer mediation before taking debt enforcement action against farmers and other eligible primary producers. Introduced in 2019, the scheme was originally proposed as a member’s bill by New Zealand First MP Mark Patterson – who’s now a minister in the curren...

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