California Walnut Crop and Farm Cash Receipts for 2022 Near Record
From Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**After a rough 2022 crop, California walnut growers are much more upbeat about their harvest this year.
Favorable growing conditions have allowed them to produce higher yields and quality nuts that marketers say will be easier to sell.
A top concern now is whether buyers who may have gotten used to discounted walnuts are willing to pay more.
Current pricing is 40% higher than where it ended last year.
**American farms reported record cash receipts of $555 billion from the sales of all commodities in 2022.
This beat the previous 2014 high by 3.1% after adjusting both for inflation, and was 28% above the 20-year average.
The 2022 record cash receipts primarily resulted from the strength of commodity prices, although production levels were also strong.
Cash receipts from crops amounted to $288 billion, while receipts from animal products totaled $267 billion.
**Most consumers appear to prefer brand-name beverages over generic or store-brand beverages, according to the September Consumer Food Insights Report.
The Purdue University report further indicates consumers make this choice even when presented with a sizable price discount on generic or store brands.
In contrast, most survey respondents said they weren’t willing to pay a premium for brand-name meat, fruits, or vegetables.
