30 September 1999
Hurricane cost farmers $1bn

HURRICANE Floyd has caused destruction adding up to more than $1 billion for the farmers of North Carolina, reports the Financial Times.

The states department of agriculture estimates the hurricane has wiped out nearly 15% of North Carolinas agricultural income.

Some 30,000 pigs and four million poultry died in the storm.

President Bill Clinton has designated the state a federal disaster area but so far the primary relief given to farmers has been in the form of low-interest loans.

Clinton is wrangling with Congress over a $8bn farm aid bill, some of which will be carved out for the victims of Floyd. Aid to the state is expected to top $1.2bn.

  • Financial Times 30/09/99 page 48