Queensland farmers are collectively mired in $15 billion debt and most have no resort but to run to financial loans in order combat the effects of natural disasters, that according to the 2009 state rural debt survey data released today.

The survey showed that up to 16,000 farmers in the state owed that much, which is an additional $3.24 billion or 27 percent more from the figures posted in 2007 even as Primary Industries Minister Tim Mulherin has acknowledged that farmers were indeed experiencing touch challenges.

With each farmer carrying an average debt of $920,000 in 2009, Mr Mulherin said that "Queensland producers still have had to deal with natural disasters from drought to flooding to cyclones in the last couple of years."

He added that the situation has been further compounded by the onset of the global financial crisis in 2008.

However, Mr Mulherin noted that the survey also found that 83 percent of the total debt figures were labelled by banks as low risk loans, which indicates that "borrowers are considered viable or potentially viable in the long term."

He said that this showed that Queensland farmers posses the ability and resilience to adjust in rough conditions and pointed to banks' strong confidence on the state's farming sector.

The survey showed that only some regions and farming sectors had absorbed the majority of the debt burden, with only three of the state's ten regions accounting for 65 percent of the total debt pile up.

The report said that among the state's farmers, those in Central Queensland borrowed most with some extra $797 loans while Maranoa/Western Downs producers incurred up to $702 million debts.

Queensland's beef industry has been identified by the survey as one of the major debt accumulator, as it increased its debt by $2.8 billion from the 2007 levels.