Kate Hand is hoping to borrow money to transform the family farm into a robotic dairy, but rising interest rates may stifle her dream.
Rising interest rates are making it harder for primary producers to borrow capital.abc.net.au/news/rising-interest-rates-hit-farmers-wanting-to-invest-in-capital/101867396Farmers wanting to expand and make their operations more sustainable are finding it increasingly difficult to borrow money due to a perfect storm of rising interest rates and higher input costs.
Kate Hand has big investment plans for the family farm, but rising interest rates are making it hard to find the finance. Rising property values and a couple of good seasons have put farmers in a good position to borrow more.showed debt from the agriculture sector had risen 12 per cent, but that could be changing as rising interest rates make borrowing more difficult.Economist Brendan O'Keefe from the New South Wales Farmers Association said it was getting harder for farmers wanting to invest in capital rather than property.
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