Supporting Dairy Farmers: A Crucial Role for Rural Financial Counsellors in Challenging Times

Following a media release from @ NSW Farmers 6/6/2024

The significant cuts to opening milk prices for the 2024-25 season will add pressure to many in our NSW dairy farming community. As Rural Financial Counsellors, we are acutely aware of the multifaceted challenges facing our dairy farmers and the broader implications for our regional economies.

Understanding the Current Landscape

In the release the The NSW Farmers Dairy Committee Chair, Phil Ryan , has highlighted the severe impact these price cuts could have on our dairy farmers adding to the list of their existing concerns including labour shortages, interest rates and electricity prices. The fear that these pressure could drive producers out of the industry is a very real and present danger.

The HUMAN Factor

As The Norco Co-operative Limited Farmer Wellbeing Report highlighted - 54% of our farmers already recognise financial burden as the #1 emotional stress factor facing them and their families. RFCSNR knows that this additional pressure will be being felt and the ripples will extend well beyond the farm office and into daily life for those who may or may not already be struggling.

The Role of Rural Financial Counsellors

In these challenging times, the role of Rural Financial Counsellors is more critical than ever. Our primary objective is to provide support and guidance to dairy farmers as they navigate these financial pressures. Here are several key areas where we can make a significant impact:

1. Financial Assessment and Planning:
2. Access to Support Services:
3. Strategic Decision-Making:
4. Advocacy and Community Support:

Our counsellors are very connected and committed to the industry building close relationships with producers to understand their needs, while maintaining great working connections with key industry associations and agencies offering a network of support for our farmers including Dairy Australia , Dairy NSW , NSW Agriculture Local Land Services NSW Rural Assistance Authority and Department of Agriculture, Fisheries and Forestry

Looking Ahead

By providing robust financial education and guidance, Rural Financial Counsellors can play a pivotal role in helping farmers weather this storm. However when every aspect is weighed up, we are also there to offer dignified and compassionate support if exiting the industry is what our clients decide is best for them.

In these uncertain times, the dedication and expertise of Rural Financial Counsellors are indispensable. Together, we can support our dairy farmers, bolster our regional communities, and secure a prosperous future for the Australian dairy industry.