Pig farmers in Laos face debt and bankruptcy due to falling pork prices
A Lao government program that provided loans to farmers to raise pigs in the run-up to the Southeast Asian Games held in the country seven years ago has bankrupted several farmers who have become mired in debt as pork prices have fallen, pushing a few to commit suicide, those who were involved in the program said.
The government issued 2.5-year loans with 13-percent interest rates to farmers to increase pork production in the run-up to the multi-sports event that Laos hosted in 2009 to ensure there would be enough meat for visitors and athletes from the 11 participating countries.
