In this ‘Money Minute,’ let’s discuss how smart crop choices made with your North Carolina land loan can help your ag operation get ahead.
Agriculture is a mainstay in The Tar Heel State, so it’s a prime location to consider expanding with a North Carolina land loan. According to the North Carolina Department of Agriculture and Consumers Services, the state’s ag industry contributes $84 billion to the NC economy every year and employs 17 percent of the state’s workforce. Choosing the right crops for your North Carolina farm is an important step in finding success with your ag operation.
Top Crops for a North Carolina Land Loan
North Carolina has a wide array of top commodities grown in the state, and any one of them would be a good crop option for your agricultural land loan. North Carolina is the nation’s largest producer in both tobacco and sweet potatoes. They are second in Christmas trees and the production of hogs and turkeys, and they are seventh in farm profits overall.
In the state, their top commodities are in high demand, making them good options for utilizing your North Carolina land loan. Leading commodities like cotton, soybeans, corn, peanuts, and winter wheat are all valuable crops.
Specialty Crops for a Land Loan in North Carolina
Another option for choosing crops with a North Carolina land loan is to look for those crops that have a rising demand, but are not yet grown by many producers in the state. For instance, the microbrewery industry is growing larger each year. Because hops are in such high demand, many states are looking to grow the vining plant that has been a mainstay of the Northwest, including North Carolina. Look to your regional Extension office for tips and ideas.
States with a subtropical climate like North Carolina offer many options for growing crops. In fact, North Carolina boasts one of the most diverse array of crop commodities, growing more than 80 different crops. The next big crop— whether for brewing, biofuel, or a new food trend—could be grown with your North Carolina land loan.
AgAmerica Lending is committed to advancing the financial strength of growers and producers in all 50 states. We offer custom ag loan packages featuring low interest rates, long amortizations, and an outstanding 10-year line of credit that help U.S. farmers and ranchers grow and prosper.