Farm finance package slashed

WA is set to lose $10 million under the restructure of a national finance package aimed at giving farmers access to low-interest loans.

The revamp of the $420 million scheme - announced this morning by Federal Agriculture Minister Barnaby Joyce - will see WA's share cut from $60 million over two years to $50m.

The changes aim to target loans at farmers in drought or flood-stricken regions and better reflect the number of farm businesses in each jurisdiction.

"These changes better reflect the current requirements on the ground and bring a substantial increase to the areas in need," Mr Joyce said. "I encourage farming families to apply to their respective state delivery agency for a concessional loan, especially those in drought affected areas."

Loans will be available at a concessional rate of 4.5 per cent for amounts up to $650,000 and $1 million in Queensland.

The scheme has only been rolled out in three states - not including WA - so far.

Farmers in the west remain unable to access the loans until the State and Federal governments reach agreement.

WAFarmers President Dale Park said despite WA's good season farmers were still facing hardship.

"I suppose the underlying frustration is it seems like as soon as the eastern states has a bit of a tough time they all leap in to do this that or the other for them," Mr Park said. "It was only last year we were facing the same sort of thing and no one was really that keen to do anything."

He urged the WA State and Federal government to sign off the package.