Record corporate profits outpace farmer’s share of food dollar and lead to higher prices for consumers
National Farmers Union (NFU) released the 2022 Farmer’s Share of the food dollar for several items typically served for the holidays.
“Corporate profits and consumer food costs continue to go up and up, but the farmer’s share of the food dollar remains low,” said NFU President Rob Larew. “Thanksgiving is a time of family and community, often centered around food, but thanks to price gouging by corporate monopolies in the food system, that meal is getting increasingly difficult to afford. NFU will continue to push back against harmful anti-competitive practices and for policies that bring fairness to farmers and consumers alike.”
Even though consumers are paying more for food this year, almost none of that increase is being passed on to America’s family farmers and ranchers. Multiple waves of mergers and acquisitions during the last several decades resulted in agriculture and food supply chains that are not only uncompetitive and fragile but also underpay farmers.
Included in the 2022 Thanksgiving Farmer’s Share numbers are:
Turkey: Retail Price – $1.99/pound, Farmer’s Share – $0.06/pound
Sweet Corn, 16oz frozen: Retail Price – $2.59, Farmer’s Share – $0.44
Stuffing, 12oz box: Retail Price – $3.59, Farmer’s Share – $0.13
Boneless Ham, 2lb: Retail Price – $12.98, Farmer’s Share – $1.00
Mashed Potatoes, 5lb bag: Retail Price – $5.99, Farmer’s Share – $1.30
Apple Pie Filling, 21oz can: Retail Price – $4.99, Farmer’s Share – $1.03
Farmer’s Share data is derived from USDA, NASS “Agricultural Prices.” Retail prices are based on Washington, D.C.-based Safeway locations.