As 2014 quickly approaches, here are a handful of food-related projections – covering everything from modified fruit packaging to increased vegetable consumption to a growing wine demand – to keep an eye on.

As always, the agricultural landscape is evolving and expanding. For growers and consumers alike, it’s important to be aware of food trends and, if necessary, adjust accordingly.

Food Trends 2014

  • Corn: The cost of corn is markedly lower. Today, it’s at $4.50/bu. (compared to $7 back in 2012), rendering this crop more affordable as livestock feeder. What’s more, the lower prices will fuel greater consumption of corn, increased exports, and more production of ethanol.
  • Soybeans: Demand is on the rise, yet the price will remain the same, $13/bu.
  • Wheat: Demand for U.S. wheat is projected to stay pretty consistent and remain limited to feed or to mill.
  • Wine: Worldwide, wine consumption is on the rise. U.S. winemakers are even expanding their grape acreage to match the growing demand abroad (especially in China – the greatest growth market for American winemakers).
  • Hemp: Many states are lifting their restrictions on growing this crop, a cousin of Marijuana, which is used to produce hemp oil, protein powders, and an array of other products.
  • Fruit: We’ve got good news for nature’s dessert! Turns out, fruit is expected to taste even sweeter in 2014 thanks to an enhanced packaging method. Tomatoes are also experiencing a flavor revolution. Two new hybrids of tomatoes have recently been created, which rumor has it, knock it out of the park in consumer taste tests. Anticipated for a 2014 release, these tomatoes are suitable for non-commercial growers.
  • Veggies: Vegetable consumption is on the rise, as consumers realize the great health benefits. It’s thought that demand may beat supply, undoubtedly boosting costs for growers, packers, grocers, and consumers.

 

Are you resolving to make enhancements to your agricultural operation in 2014? Call on us here at Bankers South. We’re an ag lending company with years of lending and agricultural experience. Our special AgAmerica Lending Program boasts a variety of ag loans, suitable for jump-starting, sustaining, or growing your operation. Whether it’s time to grow your grape acreage, start a hemp farm, or diversify your farm with vegetable crop selections, these farm loans are a great choice!