Farmer's Share Down in 2022 and USDA's Trade Mission in 2024
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**America’s farms received 14.9 cents per dollar spent on food they produced in 2022.
That “farmer’s share” is a decrease of 0.3 cents from a revised 15.2 cents in 2021.
The farm share covers operating expenses and input costs from non-farm establishments.
The remaining portion of the U.S. food dollar is called the marketing share, which covers the costs of getting the food from farms to points of purchase.
**Ag Secretary Tom Vilsack released the next steps in the USDA’s efforts to bolster U.S. ag trade, including the agency’s planned trade missions for 2024.
Ag exports totaled a record $196 billion in 2022 following a record-setting year in 2021.
USDA will lead trade missions to several markets, including South Korea; India; Vancouver, Canada; Colombia; Vietnam; Casablanca and Morocco.
Vilsack also announced a public comment period for the new Regional Agricultural Promotion Program.
**The USDA’s National Ag Statistics Service will release the 2022 Census of Agriculture data on February 13.
NASS concluded a preliminary national return rate of 61%.
NASS Administrator Hubert Hamer thanked the millions of respondents for their time and effort, adding the data will inform decisions about policy, farm and conservation programs, rural development, research, technology, education, and more.
