Hard road ahead, forecasts bank
A LEADING bank sees no quick recovery for the farming sector just a “long, hard haul with improvements coming only gradually”.
Ian Kenny, agricultural banking adviser for the Royal Bank of Scotland foresees a two to three percentage rise every year for the next two to three.
But he does not see, nor expect, any mass exodus from farming, predicting that most producers will try and sit out their problems.
With one third of those in farming having no bank borrowing, many could afford do bide their time until times get better, he said.
- The Herald 16/09/99 page 27