Chapter 12 bankruptcy filings from farmers have increased 24 percent in the 12-month period ending in September 2019 from the year before, according to research from the American Farm Bureau Federation. In addition, farm dept in 2019 is projected to be $416 billion, with $257 billion in real estate debt and $159 billion in non-real estate debt.
“Chapter 12 farm bankruptcies continue to increase as farmers and ranchers struggle with a prolonged downturn in the farm economy that’s been made worse by unfair retaliatory tariffs on U.S. agriculture as well as two consecutive years of adverse planting, growing and harvesting conditions,” the report states.
Related: Miyoko's to Work with Dairy Farmer on Plant-Based Foods; Report: Food Waste Happens Between Harvesting, Retail.
from Specialty Food News https://ift.tt/347KSGH
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