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Election 2016: Barnaby Joyce throws half-a-billion-dollar lifeline to Australian dairy farmers

The ABC’s Lucy Barbour reports (25.5.16) on the federal government’s announcement of a multi-million dollar funding package to assist the nation’s dairy farmers to recover from industry instability and price fluctuations. This comes as dairy farmers stage nationwide rallies to protest over lack of government support for the industry.

‘Australian dairy farmers will benefit from a half-a-billion-dollar lifeline, Deputy Prime Minister Barnaby Joyce has announced.

‘The $555-million package in concessional loans will be on offer for dairy farmers affected by recent milk price cuts.

‘Victorian and Tasmanian dairy farmers were left hundreds of thousands of dollars in debt after Australia’s largest dairy processor Murray Goulburn and New Zealand processor Fonterra unexpectedly slashed prices within a week of each other.

‘The Agriculture Minister made the announcement at a dairy farm in Tamworth, in his NSW seat of New England.’

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