5% of US farms account for 60% of farm sales
Story Date: 1/24/2022

 

Source: UC DAVIS, RURAL MIGRATION NEWS, 1/19/22


A farm is defined by USDA as a place that normally sells at least $1,000 worth of farm commodities a year. Farms include 4-H projects and hobby gardens that sell directly to consumers as well as the Resnick-owned Wonderful companies that Forbes estimated have almost $5 billion a year in revenue from 200,000 acres of citrus and nuts in the San Joaquin Valley as well as Fiji water and Teleflora.

USDA categorizes farms by their gross cash farm income (GCFI). A USDA survey of 12,000 farms found that 89 percent were small family farms with a GCFI of less than $350,000 in 2020, six percent were midsize family farms with a GCFI of $350,000 to $1 million, three percent were large-scale family farms with a GCFI of $1 million or more, and 2.4 percent were nonfamily or corporate farms.

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