Fewer farms go bankrupt

Bookmark and Share

A total of 26 farms in Norway went bankrupt last year, the lowest number since 2008. Even though the farm lobby is pleading poverty year after year, the numbers suggest they’re not doing so badly after all.

The number of bankruptcies among farm operations has declined 47 percent since 2011, according to new numbers from the credit firm Experian reported by newspaper Nationen.

“The development shows that most farmers operate with a healthy economy and have good management,” Morten Malmin, chief of agriculture at SR-Bank, told Nationen. Large producers, who earlier were most vulnerable, also received the most benefits from the state support programs and agreements struck in 2014.

Farmers are also benefiting from a lengthy period with rising food prices and increased subsidy to agriculture, reported news bureau NTB.

newsinenglish.no staff