Tight Credit for Farmers Leads to Smaller Crops, Higher Prices and More Hunger
Oct 28th, 2008 | By Jennifer Yousfi | Category: Financial NewsTighter credit for farmers could worsen a global food crisis as smaller crop sizes cause prices to soar. Many farmers have traditionally bought pre-season supplies such as seeds and fertilizer on credit and then paid off the debt with the proceeds from the year’s harvest. But with a growing number of farmers unable to obtain the credit they need, crop yields will suffer.