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Support Initiative Sees SanCor First to Make Funding Pledge

10 October 2013

ARGENTINA – A government support scheme, involving the cooperation of private processors and distributors, is to offer short term loans for suppliers of the country's main exporter, SanCor.

A pot of US$100 million has been made available for the scheme, aimed at securing the jobs of 11,500 Argentinian dairy farms and the 100,000 jobs in milk processing.

Politicians are working to strengthen cooperative systems and develop small and medium milk producers into shareholders in the growing global milk markets.

Opportunities in the Middle East and China have been underlined by Norbeto Yuahar, the Argentinian agricultural minister.

The SanCor project, already confirmed, has assigned a trust fund of 60 million pesos for its 230 producer members.

Farms will receive a credit package of one and a half months milk income, to be paid back over a twelve month period.

The funding initiative is part of a national rally to increase production which the National Securities Commission (CNV) has said will require hard work from both public and private sectors.

CNV President Alejandro Vanoli: “This project is key to advancing social development, it should help small producers and everyone connected with the dairy chain.”

He added that, as well as seeing milk output benefit, the project should work two-fold and stimulate the amount of value-added production.

 

TheCattleSite News Desk



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