NWFCS Expects Profitable Year For Area Row Crops
As we start our latest installment of our Northwest Farm Credit Services quarterly commodity snapshot Series, we start with area row crops. Bill Perry, Vice President at NWFCS said the 12-month outlook suggests slightly profitable onion returns.
“All sheds have sold their onions in storage. Strong demand for medium to large onions and sustained high prices for the 2021-22 crop have left onion growers in a favorable financial position. Increasing fuel costs and expensive trucking rates will create major headwinds for producers’ operating expenses.”
When it comes to area potato growers, Perry said the outlook suggests profitable returns for both contract and uncontracted spuds.
“Rising operational costs for growers, increases in packing expenses and inflation will create headwinds for processors.”
And when it comes to the Northwest Sugarbeet crop, Perry said that outlook also projects profitable returns for growers.
“Cooler weather and spring rains alleviated drought concerns and warming temperatures are optimistic to increase sugar beet growth. Higher contract prices should help minimize headwinds from rising operations costs.”
Join us Wednesday as our quarterly commodity snapshot series focuses on the area tree fruit industry.
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