Numbers released Monday by the U.S. Department of Agriculture confirm what many U.S. farmers already knew — that the weather has made this year the worst planting season on record. Heavy rainfall, flooding and other adverse events prevented more than 19.4 million acres of crops from being planted across the country.
Floods have washed away crops in Bangladesh that would have yielded nearly 400,000 tonnes of rice, according to estimates from the agriculture ministry. This could be a major blow to the South Asian country, which has historically relied on imports to cope with shortages caused by natural disasters such as floods or drought.
Recent heavy rains and flooding brought by Southwest Monsoon enhanced by Tropical Storm Falcon have left a total of almost P19 million worth of damage and crop production losses in Negros Occidental. Final report of the Office of the Provincial Agriculturist (OPA) showed that the figure comprises 1,636 affected farmers with 2,580-hectare of rice and corn plantation in 61 barangays of seven localities.
The Bangladesh Bank (BB) on Wednesday asked all scheduled banks to suspend realizing instalments of farm loans in the flood-hit districts until the situation improved in an effort to shore up the battered agricultural sector. The central bank in a circular also asked banks to disburse fresh loans among the affected farmers at flexible terms so that they could focus on farming after the flood water receded.
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