Currently, the cost of interest for farms, in terms of the percentage of expenses, is about the same as when the interest rates were around 8 to 12%. Normally, they should only be half that much, but because of the increase in debt, the amount of money paid for interest has remained the same. If the rates go up 50%, there is 50% more to pay. Thus, the burden of interest will increase in a situation that is already difficult.
On April 25th, 2007. See this statement in context.