California Pistachio Expansion and CPI Highest in 41 Years
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Pistachios are becoming the fastest-growing tree nut in California in terms of acreage expansion.
In its June report, Rabobank said pistachio-bearing acreage has grown fivefold in the past two decades.
The bank, which conducts ag market research, said the 2022-23 California pistachio crop will likely set a record for the third straight year.
California accounts for 99% of U.S. pistachio production and, in 2021, new pistachio acreage totaled more than 34,000 acres.
**House Ag Chair David Scott announced the intention to introduce a bill to help small family farmers and address the national crisis in our nation’s beef supply chain.
The bill creates a new program that strengthens the federal safety net and makes insurance products work better for small cattle producers.
The second pillar establishes a grant program at USDA to help small farmers and ranchers and producer-owned
cooperatives.
**The Consumer Price Index increased 1.3% in June on a seasonally adjusted basis after May’s 1% rise.
Over the last 12 months, the all-items index increased 9.1% before seasonal adjustment.
The U.S. Bureau of Labor Statistics reports the increase was broad-based, with the indexes for gas, shelter, and food being the largest contributors.
The 9.1% increase was the largest 12-month increase since the period ending November 1981.
