Nine out of ten Danish dairy farmers will not earn enough to be able to pay themselves a salary next year, Børsen reports.
Due to global over-production, mainly in China and Russia, the price of dairy products has plummeted, leaving farmers to face significant ramifications.
Already bad is getting even worse
Danish dairy farmers can expect a further fall in the price of milk, from 3 kroner per litre to just 2.65 kroner next year.
For a typical farmer, this decrease is the equivalent of a revenue loss of three quarters of a million kroner.
Already now, Danish diary farmers are among the world's most indebted with a total debt of 370 billion kroner.
Up to knees in debt
This downturn is only going to make matters worse.
"If it's really going to happen, then at least 90 percent of the 3,500 professional dairy farmers won't get enough out of their operations to pay themselves a salary," Kjartan Poulsen, the chairman of the Danish association of dairy farmers, worries.
"Moreover, about 50 to 60 percent of them will sink deeper into debt," Poulsen told the newspaper.