Impact of COVID-19 on Agriculture

Farm Bankruptcies Fall

News / In The News February 5, 2021

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Bankruptcies were down in 2020 compared to 2019, but that doesn't necessarily mean conditions are improving for America's farmers.

There were 552 Chapter 12 family farm bankruptcy filings in 2020, seven percent fewer than 2019. But, AFBF Chief Economist John Newton told KXXV in Waco, Texas the 2020 filings are still the third-highest number in the last decade. "So I think one of the main reasons was it was very difficult to file bankruptcy in a COVID environment."

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