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Farm debt reached $409.5 billion last year, the highest level since the sector crisis of the early 1980s.
Mullins says the band's association with the South African wine industry is no bad thing, especially since the sector is languishing in a worldwide sales slump.
The OBR stressed that since the sector was highly volatile and unpredictable, its figures were subject to "large forecast errors" and uncertainty.
Iceland's problems are deeply rooted in the history of its financial services industry, which grew out of proportion to the country's 319,355 population ever since the sector was privatized and deregulated about eight years ago.
Centrica has to offer its full range of tariffs to customers across the UK since the sector was decentralised in 1995 and, in 2015, suppliers were obliged to inform customers of the best deals on their bills.
While manufacturers added 85,569 jobs since the sector bottomed out at 434,919 in January 2010, factory employment in Indiana over all remains significantly below where it was before the Great Recession.
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Meanwhile, since the sectors have major international components, they are not the responsibility of any single country to regulate as part of a domestic climate-change strategy.
Since then the sector has exploded.
Since April, the sector has been regulated by the Financial Conduct Authority.
Since 2012, the sector has lent £51.7bn in mortgages, net of all redemptions.
Since then, the sector has gradually raised prices and has shown more underwriting discipline.
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