As out quarterly Market Snapshot series continues, we take a look at Northwest row crops. Bill Perry, Vice President at Northwest Farm Credit Services said when it comes to onions, the forecast calls for break-even returns over the next 12 months.
“Supply and demand indicate prices could increase, yet producers are sensitive to continued COVID-19 restrictions in the food service industry.”
The pandemic will continue to be an issue for potato growers as well, and Perry said slightly profitable returns are expected.
“Processors’ demand for uncontracted potatoes is restrained as the COVID-19 situation continues to dampen restaurant demand for processed potato products, such as French fries.”
And when it comes to sugar beets, Perry said he expects growers to see profitable returns for the 2020-21 season.
“The USDA forecast suggests stocks-to-use ratios will continue to decrease from 14.2% in 2019-20 to 13.5% in 2020-21, a favorable ratio for Northwest producers.”
Join us Thursday as our snapshot moves to tree fruit, as we focus on apples and pears.
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