The Emerald Group has reduced its interest rate to 6.9pc on all its harvest and flexible loan products.
The group claims it brings its products down to among the lowest priced in Australia.
Managing director, Mick Cattanach, said Emerald’s 0.85 basis point reduction reflected the company's strong funding arrangements with ANZ, Westpac and NAB.
"We continue to review all the components of our pool model including the interest costs associated with funding harvest and flexible loans," Mr Cattanach said.
"Our ability to reflect the lower funding costs will be welcome by customers of our pools, particularly given the difficult harvesting conditions many have and some continue to experience."
Mr Cattanach said the new interest rate would flow to all wheat pools managed by Emerald including in the Western Australian Emerald wheat pool, the Northern Quality Wheat Pool in New South Wales and Queensland, the WAFarmers WheatPool managed by Emerald and pools being run through Emerald’s South Australian joint venture, EP Grain.
