By Blake Jackson
The University of Kentucky Center for Crop Diversification has released a new report (CCD-FS-32) analyzing 3-year average prices at Kentucky Farmers Markets.
This report categorizes markets as rural and urban, providing average price tables and graphs for each crop.
Key findings include:
2024 vs. 2023:
- Prices increased 2.2% in urban markets and 6.4% in rural markets.
- Greens, beans, and carrots saw significant price increases.
- Cucumbers, cabbage, and strawberries experienced price decreases.
2024 vs. 2022:
- Overall prices increased by 5.1%, with 3.5% in urban and 5.3% in rural markets.
- Cucumber, broccoli, and radish prices saw the most substantial increases over three years.
- Carrots, greens, and beans experienced price decreases.
Urban vs. Rural:
- Urban prices consistently exceeded rural prices, with a 31.0% difference in 2024.
The report highlights a 20% increase in prices since 2021, exceeding inflation rates. This suggests a potential correction for previously underpriced products.
This information is crucial for farmers and markets in setting competitive and profitable prices, especially considering the rising costs of inputs and labor.
Photo Credit: gettyimages-shotbydave
Categories: Kentucky, Crops, Fruits and Vegetables, General