The weeks-long drought in the Netherlands will cost Dutch farmers about 30% of their normal annual revenues, Wiebe Draijer, CEO of Rabobank,has told broadcaster RTL.

‘Farmers are having a tough time right now and the drought makes things even worse,’ Draijer said. Rabobank traditionally serves the agricultural sector.

Rabo is meeting with its farmer-clients to help improve their liquidity. Draijer said the financial problems are not structural and farmers are facing a temporary shortage of cash.

Farmers are dependent upon their bank for financial support as the government has said it will not compensate farmers for damage to their harvests.

Farm minister Carola Schouten has agreed to extend bridging loans to farmers who have lost crops and cannot wait until the end of the year when EU agricultural subsidies are handed out.

‘The drought has hurt our farmers and market gardeners,’ she said earlier this month. ‘This is a difficult and uncertain time for them.’

Farmers will also be allowed to spread manure on their land up to September 15, two weeks beyond the normal cut-off point, the minister said.

Dutch potato growers and potato processing firms are already in talks to determine who is to pay for the problems with this year’s harvest.