Banco Santander launches the 2023/2024 wine campaign

2023-09-25 19:03:09

Santander Bank has launched its 2023/2024 wine campaign, aimed at strengthening the liquidity of the sector, which this year has a high level of stocks in some regions, which will force it to adapt its storage capacity and enhance the marketing of the stock.

In detail, the entity chaired by Ana Botín offers wine companies the support of Agroconfirming. This is the main means of payment for wineries and agri-food cooperatives to winegrowers in the face of the need for greater financing, as a consequence of the Law for the Improvement of the Food Chain, which requires that the grapes delivered be previously covered by contract. , so that its price is known, and that it is settled 30 days after the delivery of the last trailer of grapes.

In addition, Santander Bank supports professionals in the wine sector with the ‘Harvest Advance’, which advances the capital expected from the sale of the grapes that the winegrowers deliver to their cooperative.

On the other hand, Banco Santander’s team of specialists offers help to wine farmers with the restructuring and reconversion of vineyards, and business improvement investments.

Furthermore, the internationalization of companies in the wine sector is once again another of the most notable aspects of the campaign, which seeks to promote the expansion abroad of this sector, whose exports reach more than 50% of its production, and in the that the United States constitutes one of the most relevant objectives.

Santander Bank highlights that last June it already made available to its clients, farmers, ranchers, and cooperatives, a loan aimed at alleviating the effects of the drought, and facing other climatic adversities, such as the recent floods.

Currently, Banco Santander has a total of 125 branches specialized in the agricultural sector in Spain.