August 7, 2009
US' agriculture production expenditures rose 8.3 percent in 2008
Agriculture production expenses such as fertiliser, feed, fuel and machinery rose 8.3 percent in 2008 to US$307 billion, according to a report released Thursday (August 6) by the USDA's National Agricultural Statistics Service.
That's a US$23 billion increase from 2007, but it actually shows a slowdown in yearly increases, according to the report. Expenditures in 2008 "rose 8.3 percent compared to the 2007 rise of 19.2 percent over 2006."
The cost of feeding livestock, fertilising and treating soil, buying and maintaining farm machinery and rent saw the biggest cost increases in 2008, the USDA said.
Tractor costs shot up by 32.8 percent and livestock producers paid 12.2 percent more for feed. Land-rental costs rose up 14 percent.
"In 2008, the average per farm US Total Farm Expenditure was US$140,075, compared with US$129,062, an increase of 8.5 percent over 2007," according to the report. "On average, US farm operations spent: US$21,398 on Feed, US$17,337 on Farm Services, US$13,550 on Labour, US$12,912 on Livestock and Poultry Purchases, US$10,265 on Fertilizer, Lime, and Soil Conditioners, and US$10,220 on Rent."
