U.S. Farm Bankruptcies Jump 20% in 2019
2019 goes on record as a tough year for American Farmers as farm bankruptcies jumped 20%. That’s the highest its jumped since 2011, when the country was still recovering from the Great Recession.
According to the American Farm Bureau, nearly 600 family farmers declared chapter 12 bankruptcy despite the $28 billion in aid extended to farmers over the past few years. Uncertainty in the market spurred by trade wars and rewritten international agreements is believed to be the cause for the bankruptcies.