The Minnesota Department of Agriculture has released a report, summarized by the Minneapolis Fed, showing strawberries are far and away the most profitable “specialty” crop planted by Midwest farmers. Here’s the full chart.
Photo: Minnesota Fed
The report used farm records from 2008 to 2011 from in-state producers to find out average financial performance for nine crops. At least five farms had to have grown the crop for it to be included in the analysis.
“Just as strawberries are often the first crop out of the field, so too are they first in financial returns after direct expenses and overhead are paid, followed by assorted vegetables,” the Fed notes. “In some cases, they didn’t have much competition; four of the nine categories did not recover their basic costs or merely broke even.”