Rising input costs are a major concern. In the United States, 80 percent of farmers ranked increased input costs as the main risk to profitability (chart). The current inflationary environment has made the increase in input costs a major concern. Leila Fadel, from NPR, talks to Joel Anderson, executive director of the Snake River Farmers Association, about the turmoil in the world of agriculture.
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Stay informed with expert information on American agriculture. The scarcity of the supply chain contributes fundamentally to inflation and to the increase in the costs of agricultural production. While this problem is out of your control, you can control your response. Securing working capital, reducing production costs, increasing efficiency and participating in strategic business planning can help offset the repercussions of shortages in the supply chain.
Interest rates are expected to trend upward this year and setting a fixed rate soon might be a good idea. Download the full white paper to learn more about how different government programs will be affected in the coming years. There are two major problems facing agriculture in the modern world. The loss of agricultural land due to erosion and man-made factors is one of them.
The other is the growing lack of diversity in crops. These changes would cause family farms to face enormous tax burdens and would potentially force them to sell the farm piece by piece to pay taxes after the death of a family member.