Farmer Share of Food Dollar May Grow
By NAFB News Service
via Hoosier Ag Today - Jun 2, 2021
The latest federal data shows that the farmers’ share of the average U.S. food dollar increased slightly. The USDA’s Economic Research Service tracks yearly spending by American consumers on food, as well as how much of that dollar is captured by each part of the food supply chain.
The agency recently released data for 2019 showing that the foodservice industry continues to claim a growing part of the average food dollar, increasing three percent to 38.5 cents in 2019.
Farm production was the only other part of the food chain that saw its share of the food dollar increase, but that increase wasn’t a large one. WisconsinFarmer.com says the farmers’ share of the food dollar rose from a 25-year low of 7.4 cents in 2018 to 7.6 cents the following year...