There’s been a lot of talk about the price consumers are paying for their Thanksgiving meals this year — but the amount farmers make remains low according to a new report. On the average, farmers and rancher are receiving just 14.3 cents out of every dollar spent on food.
The National Farmers Union just released the 2022 Farmer’s Share of the food dollar for Thanksgiving items. Even though consumers are paying more for food this year, almost none of that increase is being passed on to America’s family farmers and ranchers.
So, why are farmers seeing so little of the inflated food prices? According to USDA, off-farm costs, including marketing, processing, wholesaling, distribution and retailing, account for more than 80 cents of every food dollar spent in the United States. The National Farmers Union blames waves of mergers and acquisitions during the last several decades, which they say have resulted in agriculture and food supply chains that are not only uncompetitive and fragile but also underpay farmers.
“Corporate profits and consumer food costs continue to go up and up, but the share of the farmer’s share of the food dollar remains low,” said NFU President Rob Larew.
Included in the 2022 Thanksgiving Farmer’s Share numbers are:
- Turkey: Retail Price – $1.99/pound, Farmer’s Share – $0.06/pound
- Sweet Corn, 16 ounce frozen: Retail Price – $2.59, Farmer’s Share – $0.44
- Stuffing, 12 ounce box: Retail Price – $3.59, Farmer’s Share – $0.13
- Boneless Ham, 2 pound: Retail Price – $12.98, Farmer’s Share – $1.00
- Mashed Potatoes, 5 pound bag: Retail Price – $5.99, Farmer’s Share – $1.30
- Apple Pie Filling, 21 ounce can: Retail Price – $4.99, Farmer’s Share – $1.03