By Whitney McFerron
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 wmcferron1@bloomberg.net
To contact the editor responsible for this
story: Claudia Carpenter at ccarpenter2@bloomberg.net
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