Industry estimates show U.S. local food sales totaled at least $12 billion in 2014, up from $5 billion in 2008, and experts anticipate that value to hit $20 billion by 2019.
USDA expects the loans to be especially helpful to beginning or underserved farmers, U.S. veterans looking for a career in farming, and those who have small and mid-sized farming operations.
In 2014, these small family farms also accounted for 90% of all U.S. farms and 22% of agricultural production, according to USDA's Economic Research Service.
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack today announced a series of sweeping changes to a popular loan program for rural homebuyers.
Prices for turkey, a Thanksgiving staple, have increased more than prices for most other grocery store foods in recent years. From 2005 to 2011, average retail turkey prices increased by 47 percent, while food-at-home prices rose by 13 percent. Higher feed costs and energy prices led producers to reduce turkey inventories, driving up retail turkey prices.
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