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