A new report examines what each food dollar pays for, from food processing to packaging.
When you buy a bag of potato chips from the neighborhood grocery store, how much of your money goes toward growing the potatoes and how much covers shipping the chips to the store?
Here’s a look at the costs that contribute to each food dollar spent in the U.S. and how each dollar is divided among the industries that make up the retail food supply chain. Five cents goes to the agribusiness sector, which produces farm inputs such as fertilizers and seed and another 5 cents goes to the transportation industry. The energy sector, which powers the machinery used in the production cycle from farm to shelf, claims 4.4 cents, and another 4 cents goes to the packaging industry; while 3.2 cents covers the finance and insurance services involved in food, and 2.6 cents ends up with the advertising industry.
Some food items have seen near-record increases in the past year. An avian flu outbreak last year pushed up the price of eggs across the country. Although prices started to ease as flu cases fell, egg prices were still 55.4% higher in February than a year ago.
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