DAIRY INDUSTRY | STATE CONSIDERS $5.5 MILLION BAILOUT FOR MAINE DAIRY INDUSTRY
Over the last 2 years, Maine has lost a quarter of its dairy farms to runaway electricity, fuel and fertilizer costs, and skyrocketing interest rates. Only 161 remain in operation.
On the brink of collapse, Maine’s $2.7 billion dairy industry is asking lawmakers for a bailout this session to avoid another round of farm closures.
Over the last two years, Maine has lost 25% of its dairy farms. Only 161 remain in operation. Farmers blame runaway electricity, fuel and fertilizer costs, and skyrocketing interest rates on farm loans. The heritage industry is approaching the point of no return, they warn. If it shrinks much more, the industry won’t be able to support the network of fertilizer, feed and farm equipment suppliers and truck drivers needed to sustain any dairy operation.
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April 5, 2023