Georgia Specialty Crop Block Grants and Global Food Prices Drop
**The Georgia Department of Agriculture announced recipients of the 2022 USDA Specialty Crop Block Grants, projects that “enhance the competitiveness of specialty crops.”
Georgia’s share of Specialty Crop Block Grant funding is approximately $1.43 million for 2022.
This year, 14 projects were awarded to associations like the Georgia Fruit and Vegetable Growers, the Georgia Green Industry, the Georgia Pecan Growers, and the Kennesaw State University Research and Service Foundation, and the University of Georgia Research Foundation.
**Strong growth in farm real estate debt pushed agricultural loan balances higher in the second quarter.
www.agrimarketing.com reports, outstanding farm debt increased about 5% from last year, the fastest pace in nearly six years.
While ag real estate loans continued to build, production lending rose modestly following subdued demand in recent
Recent loan growth supported a slight improvement in
interest margins and income at agricultural banks from last quarter.
**Global food prices dropped for a fifth-straight month after a seasonal rise in supplies took place and demand dropped for some products.
A U.N. index of world food costs dropped 1.9% in August and remains at its lowest since January.
While consumers will feel some relief, the declines aren’t as sharp as they were in July, when food prices dropped the most since 2008.
Food prices do remain higher than last year.