HOLLINS, Va. (WFXR) — Part of what we do with our On the Farm reporting is to bridge the gap between farmers and consumers. The prices we all pay to put food on our tables are affected by what happens on farms around the world.
For the next year, WFXR News will track the prices of four basic staples that might be found on the menu for an average family of four.
Those staples and their prices are:
- Four Pack Bone-In Chicken Thighs $2.49/Pound, $4.71/Pack
- Bagged Salad $3.49
- Packaged Pre-Cooked Rice $3.49
- 12 Ounce Bag Fresh Green Beans $2.99
We did our shopping at a single grocery store in Hollins, Virginia. That same store will be used as we track the price of those staples through 2024. We will update the pricing once a quarter.
So, why are we paying what we are paying for those items?
Chicken prices hit a peak in October and have been slowly coming down since. Demand and shortages caused by last year’s avian flu outbreak are the primary price drivers. As poultry stocks rebound, prices should drop more. However, demand for beef and pork has dipped, and that could put demand pressure on poultry.
The relatively high price of the bagged salad is due, in part, to the convenience factor. It comes pre-chopped, and many families are willing to pay a little more for that. However, that is not the only reason for the price. Shortages caused by flooding in primary California growing regions have created supply issues. That shortfall could be made up this winter from lettuce grown in Mexico, Central, and South America.
Convenience factors into the cost of rice, as well, but supply shortages are also key. Rice is one of the most in-demand grains worldwide. Weather problems in growing regions and a decision by India to limit exports have caused a shortfall. All grains except rice actually dropped in price last year.
Finally, green beans and a bit of good news. Green bean prices dipped in 2023. Good crops in the United States, Canada, and Latin America have meant stable supplies. That equates to stable prices. Of course, there is always a complicating factor. Recent bad weather in Mexico could come into play later this year.
While food prices are still being affected by inflation, that does not necessarily mean farmers are making more on what they produce. That same inflation has driven up input costs — fertilizers, feed, fuel, and a host of other things vital to farming — have cut into the bottom line of producers. In addition, when weather affects crops and yields go down, it may create higher demand and higher prices, but farmers have less product to sell, and that usually translates into less cash for them.
We will continue to track the prices of these four staples. Our update will be in April.
