24 February 1999
American farmers to lose billions, says USDA

AMERICAN farmers will lose billions of dollars over the next few years from the collapse of markets in Asia and the former Soviet Union, forecasts the US Department of Agriculture (USDA).

The current years net farm income is expected to fall below the $47.9 billion (£30bn) projected last year and USDA analysts have slashed their 10-year projections for US farm exports.

After dipping further to $43.8bn in 2000, net farm income is forecast to rise gradually to $50.4bn by 2008.