Ag Retail Outlook Good and Right-To-Repair Legislation
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The outlook for agricultural retailers is generally favorable for 2023, following a year of record profits in 2022.
However, the sector faces emerging risks that could depress profit margins and challenge traditional business models in the years ahead.
Lower levels of industry working capital, higher property insurance costs, and changing grower needs are three of the key issues ag retailers will need to navigate over the next five years.
**Global hunger and malnutrition pose significant threats to U.S. national security, according to a new report commissioned by Farm Journal Foundation.
The report, authored by Texas A&M researchers, examines how global food insecurity is linked to numerous geopolitical risks.
The report suggests increasing investments in agricultural development and innovation would help mitigate these risks by enabling developing countries to improve their crop yields and better feed themselves.
**A group of state attorneys generals recently asked Congress to pass expansive Right-to-Repair legislation targeted at cars, farm equipment, and digital electronics.
In a letter to the House and Senate Commerce Committee, the group says, "The Right-to-Repair is a bipartisan issue that impacts every consumer, household, and farm in a time of increasing inflation.”
Concerns mount as the manufacturing of cars, digital devices, and agricultural equipment is becoming more technologically advanced and built with more embedded electronics.
