Bankruptcies show stress in farm economy
After a four-year downward trend, U.S. farm bankruptcies are on the rise again, and with uncertainties about the impacts of U.S. tariffs on export trade, there’s growing concern that the financial health of farms across the country will continue to falter. A total of 216 U.S. farms filed for Chapter 12 bankruptcy last year, up 55% from 2023. With 17 filings, California led the nation. … Arshdeep Singh, a Fresno County citrus grower and director of the Punjabi American Growers Group, said there is no support for California farmers in the San Joaquin Valley who have been financially pummeled by impacts of the state’s Sustainable Groundwater Management Act. Some have filed for bankruptcy or are on the verge of it as their land value has plummeted and their equity has evaporated, with banks calling on their loans.
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