Santander reinforces the liquidity of winegrowers, wineries and cooperatives with the harvest campaign

MADRID, 5 Sep. (EUROPA PRESS) -

Santander continues its support for the Spanish agricultural sector and launches the 2022-2023 wine campaign, with which it especially strengthens the liquidity of companies in the world of wine, which in the coming months will have to compensate for the high production costs of a harvest in which the export will be, once again, a fundamental aspect, as reported by the entity.

In this sense, the bank offers the support of Agroconfirming, the main means of payment by wineries and Agri-food Cooperatives to wine growers and which responds to the need for greater financing, due to the Law for the Improvement of the Food Chain, which It obliges them that the grapes delivered be previously covered by contract, that the price be known and that it be settled 30 days after the delivery of the last trailer of grapes.

In the same way, Santander supports wine professionals through the Harvest Advance, by which it anticipates the expected funds from the grapes that the winegrowers deliver to their Cooperative.

Restructuring and reconversion of vineyards, as well as investments to improve the business, are challenges facing the sector and that Santander supports through its more than 1,000 offices specializing in the agri-food sector.

The bank makes agile and flexible management available to winegrowers and all its experience in contracting vineyard insurance, key for the sector in the face of any climatic adversity.

Likewise, Santander offers the financing of the insurance premium under preferential conditions.

Support for the internationalization of companies in the world of wine is another of the most important aspects of the campaign, which seeks to promote the export of this sector, which exports more than 50% of its production and in which the United States It is one of the most important destinations.