Will the Good Times Last? (Part 2 of 2)
We watched as 2020 unleashed volatility on our food and agribusiness supply chains. In the fresh produce supply chain, disruptions impacted the seed industry, growers, shippers, wholesalers and retailers. While consumer behaviors and preferences also shifted during this time, shoppers continued to place importance on choosing grocery stores based on the availability of fresh foods — especially high-quality fruits and vegetables.
This paper, published in the 2019 Special Issue of the Economic Review, explores how the agricultural sector might bridge the gap between its current state, where commodity prices and revenue generally have been low, to a longer-term future with greater economic potential.
For many years, weather, disruption and unforeseen circumstances have been the root of issues affecting the agricultural value chain. Specifically, this year, excessive rainfall early in the planting season caused delays for crop farmers, and rising tensions from reports in the dairy industry have created challenges there.