It comes as no surprise grocery proces have taken steep climbs in recent years.
New data from USDA shows just how much disposable income consumers are spending to put food on the table.
They found that in 2023, U.S. consumers spent around 11 percent of their disposable income on food, and that is right in line with spending levels in 2022.
“Food at home” purchases fell a couple of points during 2023, with “food away from home” jumping nearly half a percent.
They place the rise on more disposable income, with consumers starting to return to outside the home eateries.
Related Stories
Mike Steenhoek of the Soy Transportation Coalition discusses industry reactions to the proposed Union Pacific–Norfolk Southern merger, the Surface Transportation Board’s review process, and current conditions on the Mississippi River.
Lower tariff rates and new rail-service proposals may improve corn movement efficiency during early-season marketing.
Crop producers face tightening credit and lower incomes, while strong cattle markets continue to stabilize finances in livestock-heavy regions.
Supplemental Disaster Relief Program Stage Two will disburse around $16 billion, approved by Congress last year. Sign-ups begin Monday, and producers have until April to return applications.
Removing the 40% duty sharply lowers U.S. beef import costs on beef, coffee, fertilizer and fruit, and restores Brazil’s competitiveness during a period of tight domestic supply.
Experts say farmers and ethanol producers would benefit from a risk-based ILUC system that protects forests without relying on speculative modeling.
