Watermelon is among the top three crops grown in the United States; both consumption and production have been on the rise over the last few decades. On average, each American consumes 14 pounds of watermelon annually, with seedless varieties increasingly in demand. Beyond nutrition, the melon crop is economically significant, too, with a fresh market value of nearly $520.8 million in 2012. AgAmerica’s custom loan packages keep the nation’s melon crop production at full tilt.
Melon Industry Overview
U.S. watermelon production in 2012 totaled more than 39 million cwt. The value of fresh market watermelons that year was nearly $520.8 million.
The leading producers of watermelon in 2012 were the states of Florida and Georgia, followed by the states of California and Texas. Combined, these states accounted for 65% of U.S. production (NASS)
Watermelons thrive in sandy soils. The crop is usually ready to harvest in about 90 days. Peak production occurs from May through August.
Watermelon leads per capita use of all U.S. melon crops with a 60% share, followed by cantaloupe and honeydew.
Custom Loan Package Keeps Watermelon Farm Afloat
The solution: Our borrowers sought to refinance some debts and obtain working capital for their watermelon farm operation. In taking a global perspective of the borrower’s financial situation, AgAmerica was able to creatively structure a loan to meet all of the borrower’s needs …