Oklahoma State University’s Agricultural Economics Department released the summary report of the November 2017 edition of the Food Demand Survey (FooDS) this week. According to it, willingness-to-pay (WTP) decreased for all food products. WTP for deli ham saw the largest percent decrease among meat products compared to one month ago. WTP for all products, except rice and beans, reached its lowest point since the beginning of FooDS in May 2013.
Expenditures on food eaten at home decreased 1.42% from October to November and expenditures on food purchased away from home decreased 5.84%. Consumers expect a slight decrease in beef and pork prices and a slight increase in chicken prices compared to one month ago. Consumers plan to buy less chicken, beef, and pork compared to last month. Plans to eat out decreased compared to last month.
Taste, safety, and price remained consumers’ most important values when purchasing food this month. Consumers’ food values remained similar to those in past months. Similar to last month, consumers reported that their main challenge was finding affordable foods that fit within their budget. Avoiding pesticides, hormones, and antibiotics was the challenge experiencing the largest percent increase, while finding convenient alternatives experienced the largest percent decrease. In November, about 4% of participants reported having food poisoning, a 37% decrease from last month. About 4% of respondents reported being vegetarian or vegan.
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