Australian farmers saved over $6 billion in Farm Management Deposits, with Victoria leading at over $1.5 billion.

Australian farmers have saved over $6 billion in Farm Management Deposits (FMDs), with Victoria leading at over $1.5 billion. FMDs help manage cash flow by allowing farmers to save pre-tax earnings during good seasons for future use. Though the number of accounts has decreased, their popularity remains strong, with high interest rates around 4.5% for one year and 4.2% for two years. A potentially strong winter crop could boost FMD savings in 2024-25 despite lower grain prices.

3 months ago
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