The National Farmers Union (NFU) recently released their updated "Farmer's Share" of the food dollar for items typically purchased during the Thanksgiving holiday. These figures reflect how much farmers earn vs. the price consumers pay at the grocery store.
Here's a breakdown of general prices you see at the grocery store vs what the farmer earns from your Thanksgiving Meal:
Turkey, 11 lb frozen: Retail Price – $21.89, Farmer’s Share – $0.66
Mashed Potatoes, 5lb bag: Retail Price – $3.99, Farmer’s Share – $0.64
Sweet Corn, 16oz frozen: Retail Price – $2.99, Farmer’s Share – $0.41
Stuffing, 12oz box: Retail Price – $3.99, Farmer’s Share – $0.09
Boneless Ham, 2lb: Retail Price – $12.98, Farmer’s Share – $1.32
Pumpkin Pie Filling, 15oz can: Retail Price – $1.79, Farmer’s Share – $0.16
Cranberries, 12oz: Retail Price – $2.99, Farmer’s Share – $0.29
Turkey and stuffing have the lowest farmer’s share of the food dollar of the group with just $0.03 and $0.02 of each dollar spent at retail making it back to growers.
Here are more Farmer's Share figures:
1lb of Lettuce: Retail - $2.29, Farmer - $0.21
1lb of Tomatoes: Retail - $2.00, Farmer - $0.67
5lbs of Carrots: Retail - $3.99, Farmer - $2.33
1lb Boneless Ham: Retail - $12.98, Farmer - $0.90
Loaf of Bread: Retail - $4.49, Farmer - $0.18
5lbs of Russet Potatoes: Retail - $5.99, Farmer - $2.47
1lb Top Sirloin: Retail - $9.99, Farmer - $2.91
1lb of Fresh Apples: Retail - $1.25, Farmer - $0.88
5lb bag of Flour: Retail - $6.89, Farmer - $0.64
18oz box of Corn Cereal: Retail - $5.99, Farmer - $0.09
1lb of Bacon: Retail - $4.99, Farmer - $0.90
12 Pack of Beer: Retail - $14.99, Farmer - $0.07
"Did you know that farmers and ranchers receive only 14.3 cents per every dollar that consumers spend on food at home and away from home? According to the USDA, off-farm costs, including marketing, processing, wholesaling, distribution, and retailing account for more than 80 cents of every food dollar spent in the U.S."
According to the USDA, in 2022, food prices increased by 9.9% on top of spikes of 3.5% in both 2021 and 2020. This is considered to be the largest annual increase in food prices since the 1980's. In 2023, food prices are expected to increase 5.8%, which is above the historical-average rate, but luckily less than what we saw in 2022.
The NFU’s Fairness for Farmers campaign is working to solve the monopoly crisis in food and agriculture. Through stronger antitrust enforcement and greater transparency, we can increase the farmer’s share of the food dollar and bring fairness for farmers and consumers alike.
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