Denbigh 2011 - Farmers get bounty

Christopher Serju, Sunday Gleaner Writer

Irish potato and onion farmers are set to benefit from an unprecedented low interest rate which will see them paying a mere 6 per cent per annum on loans from a special $500-million pool of funds from the Development Bank of Jamaica (DBJ) and People's Co-operative Banks.

This was announced by Minister of Agriculture and Fisheries Robert Montague while delivering the keynote address at the Denbigh Agricultural, Industrial and Food Show.

Noting that prevailing interest rates faced by farmers are unsustainable, Minister Montague also threw the ailing dairy industry a lifeline with news that a four per cent interest rate on loans over seven years would also be available, as part of his nine-point plant for moving the industry forward.

In a wide-ranging speech, the minister cited the need for leveraging technology to find new ways of doing old things. In this regard, he said Government was moving to provide incentives for people genuinely interested in farming. Declaring that come November 1, only registered farmers would be able to access benefits through the Rural Agricultural Development Authority (RADA), he warned that the days of political interference in agriculture was at an end.

"Let me sound a warning to all members of parliament who have in the past used RADA as a handout entity, only genuine farmers with IDs will be benefiting from RADA," he warned.

The minister also announced that the $350 charge for registration of farmers will now be waived in order to get them to come online, as the Government steps up the fight against praedial larceny.