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California economy propped up by agricultural sector

Friday, July 27, 2012

Foreign demand has helped farmers in the state, and growth is expected to continue.
Foreign demand has helped farmers in the state, and growth is expected to continue.

Though the majority of the Californian economy is in shambles, with state debt at an extremely high level and businesses struggling to find ready capital, the agricultural sector has remained the sole bright spot for The Golden State.

The Associated Press reported that there have been significant gains made for farmers in the state, as farm revenues and crop values are shooting upward in 2012 in the state.

People who have used farm equipment are benefiting at a time when higher fuel and feed costs should be affecting profits, but the agricultural sector has remained profitable and strong in the face of these inhibiting factors.

Foreign demand has helped farmers in the state, and growth is expected to continue.

"Our agricultural economy is connected to the rest of the planet," Dan Sumner, an agricultural economist at the University of California-Davis, told the AP. "Poorer countries around the world are turning into middle-income countries and they want fruits and vegetables, which we do well here."

The San Joaquin Valley has been a significant area for the state's economy, as the innovative farms in this region have been especially productive this year, according to Western Farm Press

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