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Farm financial stress deepens amid ethanol policy delays
Nebraska ag leaders say ethanol policy continues to lack direction and its impacting the farm economy.
President of the Nebraska Corn Growers Association Michael Dibbern says the financial pressure facing farmers runs deeper than what farm bankruptcy data shows. “They’re just going to quit. They’re going to sell off their equipment and be done. As a young farmer, I would love to say that in a way creates more opportunity to come in, but there aren’t many banks right now that will extend a line of credit to someone that just wants to grow by that magnitude.”
At a roundtable in south-central Nebraska on Wednesday, state commodity leaders say expanding demand for ethanol would help improve the economy.
Senator Pete Ricketts tells Brownfield he’ll be sharing that message to get nationwide, year-round E15 across the finish line. “I think that’s one of the things that will help get our colleagues over who maybe are fiscally conservative and say hey, look you don’t like to do all of these aid packages. Help us get this passed and help our farmers out.”
But, Troy Bredenkamp with the Renewable Fuels Association says expanding market access in countries like Japan, India and China could move the needle quicker. “All those could be very quick demand starters for U.S. ethanol and actually come on quicker than E-15.”
He says retailers will likely have a rapid adoption rate, but the transfer from E10 to E15 could take some time.
Michael Dibbern:
Senator Pete Ricketts:
Troy Bredenkamp: