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.

About 140 pig farmers and their families who live in the capital Vientiane and in the central provinces of Vientiane and Bolikhamxay participated in the program.

Phouvan Leu-ekkhammanivong, a pig farmer in Nakoung village, Vientiane, told RFA’s Lao Service that the government issued him and others loans to raise the animals before the biennial sports event.

“Farmers would get loans, small pigs and animal feed based on their production capacity,” he said. “That means if one farmer could feed 200 pigs, the agriculture promotion bank provided 200 piglets; if he could feed 100 pigs, the bank would give him 100 piglets.”

During the Games, government authorities controlled pork supplies, so that the meat used to sell quickly in markets when demand grew. But afterwards, excess amounts of pork flooded local food markets, causing prices to plummet.

more here Pig Farmers in Laos Face Debt And Bankruptcy Due to Falling Pork Prices