Many Specialty Crops See Drop In Prices Too
It is not just corn, soybeans and wheat that are seeing slumps in prices. Many specialty crops such as almonds are also seeing a drop in price due to an increase in the dollar and reduced demand for the product.
A recent article by Valley Public Radio spotlight the issues that almond growers are facing in California. The prices were high a couple of years ago and now the price is at least a $1 per pound lower and growers are also facing possible increases in water prices.
Most of farming is facing lower prices and lower profits and it appears to be across the board, not just the major crops.
Paul Neiffer, CPA
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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