Tangerine Share of Citrus Up and Thompson Elected House Ag Chair
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Fresh oranges have long been a favorite fruit of U.S. consumers, but the U.S. palate has changed over the past couple of decades.
Between 2000 and 2022, domestic availability of fresh oranges fell from 11.7 pounds to 8.3 pounds per person.
At the same time, the popularity of tangerines has soared.
A comparison of per capita fresh tangerine and fresh orange availability shows the share going to tangerines increasing from 20 to 40%.
www.agrimarketing.com/s/143464
**The House Republican Steering Committee elected Congressman Glenn "GT" Thompson (PA-15) as Chairman of the House Committee on Agriculture for the 118th Congress.
Thompson will be the first Chairman from Pennsylvania in nearly 170 years.
After Wednesday’s vote, Thompson said the political landscape in Washington may be fractured, but as Chairman, I will prioritize the needs of our producers and rural communities, the backbone of this country.
**In response to relatively stronger net farm incomes, U.S. farm sector capital expenditures have shot up dramatically in the past three years.
According to University of Illinois research, farm sector capital expenditures were approximately $30.1 billion in 2019, and forecast at $44.2 billion for 2022.
Capital expenditures include tractors, trucks, autos, machinery, buildings, land improvements, and other expenditures.
The data implies farmers have used a portion of their strong net farm incomes to replenish their capital stock.
