Dive Summary:
- According to a report released by Rabobank's Food and Agribusiness Research group, sales of fresh berries will continue to rise 7% annually for the next three years.
- While good news for the industry, Rabobank also warned producers that it will become more difficult to be profitable as well thanks to import pressure, rising production costs and resource constraints.
- The nation's two largest berry production regions are California and Florida, both of which are seeing increased yields with new varieties of berries.
From the article:
Following a recent growth trend, sales of US fresh berries will continue to expand by 7% per year over the next three years, according to a report released by Rabobank's Food and Agribusiness Research and Advisory (FAR) group. Despite an upward sales momentum, the report finds that berry growers and grower-shippers will be challenged to maintain profitability due to a number of factors. The report cites escalating production costs, resource constraints, import competition and the sheer market power of retailers as reasons why producer margins will continue to face pressure. California ber...