Farmers across the U.S. that focus on fresh produce are losing a combined $1 billion each week, "The Growing Season" author and farm owner Sarah Frey said Tuesday in a Fox Business interview.
What Happened: The approximate 250,000 fresh produce farms across the U.S. are struggling and the only solution is for farmers to regain lost restaurant sales, Frey said. Even farms with strong exposure to the retail and grocery channel are still missing out on the important restaurant market.
Big Bet On Consumer Mood: Farmers are also forced to make difficult decisions that would greatly impact their businesses, especially ahead of pumpkin season. Frey Farms in particular is known for its pumpkins yet it actually sells more watermelons.
In Frey Farms' case, the company is unsure if people will still want to buy a pumpkin amid the COVID-19 pandemic. Pumpkins are associated with fun times and family gatherings in the autumn and winter months and it is impossible to know who will feel like celebrating in the coming months.
Nevertheless, Frey Farms is betting big on a favorable shift in mood as it's producing more pumpkins than ever this year.
"Pumpkins make people happy, so I think we can all use a little bit more of that now," Frey said.
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