Scotland’s agricultural debt was 1.67 billion pounds ($2.6 billion) on May 31, up 3.5 percent from the same time a year earlier and heading for a third consecutive annual gain, the region’s chief statistician said.
About 89 percent of advances from banks and mortgage companies went to owner-occupier farms, while 8 percent went to tenant farmers and the remainder went to agricultural contractors and livestock salesmen, according to the chief statistician’s report on the government’s website. Agriculture debt rose for a third straight year “despite difficult lending conditions in the economy,” it said.
To contact the reporter on this story: Whitney McFerron in London at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Carpenter at email@example.com