Argentine province offers zero-interest loans to farmers - FreshFruitPortal.com

Argentine province offers zero-interest loans to farmers

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Argentine province offers zero-interest loans to farmers

An Argentine provincial government has offered interest-free loans to local pear, apple and plum farmers, exporters and processors, according to news website mediamza.com. 

The Mendoza Government announced the plum industry could access the interest-free loans through its Transformation and Growth Trust Fund for 15 months. Fresh and dried fruit farmers, as well as industrial businesses, would be eligible for the loans, the website reported.

Dried fruit growers would be able to access finances of up to US$1,259.50 per hectare; fresh plum growers could receive US$1,044.60 per hectare; industrial users could receive $833.66 per hectare.

Apple and pear exporters and processing plants could access funds to purchase raw materials, inputs and processing costs. Mediamza reported the zero-interest loans would effectively equate to US$0.22 per kilogram of raw materials for apple and pear growers, in a proportion that is no less than 30% of total export volumes.

The story said peach farmers and exporters could access loans for 10 months with rates of 6%.

Source: www.freshfruitportal.com

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