Cheaper credit would not drive farmers to ruin

Cashflow pressure on farms is real, but farmers have a strong repayment record

2nd October, 2016
People looking at farming machinery at the Irish Ploughing Championships 2015. Pic: Rollingnews.ie

Readers of Elaine Byrne’s article last week headlined ‘Cheaper finance will make slaves of farmers’ might well be alarmed and conclude that farming is headed for a credit crash. But the idea that lower interest rates would fuel a Klondike-type rush by farmers is way off the mark.

Let’s agree on one thing: the prices paid to farmers are unsustainably low. Their income difficulties this year have been particularly acute across...

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