Farm bankruptcies in 2019 increased nearly 20 percent nationwide, but there was no significant increase in the number of Chapter 12 filings in Virginia.
Chapter 12 bankruptcy filings allow family farmers and fishermen to avoid liquidation or foreclosure. According to an analysis by the American Farm Bureau Federation, there were 595 Chapter 12 family farm bankruptcies in the U.S. last year. That number reflects an increase of nearly 100 filings from 2018 and the highest number since 2011, when they reached 637. Only six Chapter 12 farm bankruptcies were listed for Virginia, the same as in 2018.
Farmers in 49 Virginia counties who suffered losses from last year’s excessive heat and drought may be eligible for U.S. Department of Agriculture Farm Service Agency emergency loans.
Last year was a “terrible production year,” but Dr. John Anderson predicted that farmers will be able to recover in 2020.
The number of farmers affected by stress, anxiety and depression is growing as they face bankruptcy, selling out or leaving lifelong careers in agriculture.
Virginia Agriculture in the Classroom
For years, Virginia’s farmers, conservation groups, and soil and water conservation districts have worked diligently to address legitimate barriers to farmers being able to adopt on-farm conservation practices. Those include stream exclusion fencing and nutrient management plans.