Latest FooD Survey Indicates Consumer Willingness-to-Pay Rises for All Food Products in DecemberTue, 19 Dec 2017 15:03:56 CST
Oklahoma State University's Agricultural Economics Department released its summary report of the December 2017 edition of the Food Demand Survey (FooDS) this week. According to it, consumers' willingness-to-pay (WTP) increased for all food products. WTP for steak saw the largest percent increase among meat products compared to one month ago. WTP for chicken breasts, pork chops, and deli ham is lower than one year ago.
Expenditures on food eaten at home increased 0.37% from November to December and expenditures on food purchased away from home remained unchanged. Consumers expect a slight decrease in chicken prices and a slight increase in beef and pork prices compared to one month ago. Consumers plan to buy more beef and pork compared to last month. Plans to eat out increased compared to last month.
GMOs, Salmonella, and E. coli were the most visible issues in the news over the past two weeks. The largest percent increase in awareness from November to December was for battery cages followed by gestation crates. The largest percent decrease in awareness from November to December was for antibiotics followed by hormones. E. coli, Salmonella, and farm animal welfare ranked as the top three food safety concerns in December. Concern for all items decreased relative to last month, except for lean finely textured ground beef. The largest percent decrease in concern from November to December was for Salmonella followed by antibiotics.
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. Losing weight was the challenge experiencing the largest percent increase, while avoiding pesticides, hormones, and antibiotics was the challenge experiencing the largest percent decrease. In December, about 4.3% of participants reported having food poisoning, a 9% increase from last month. About 6.6% of respondents reported being vegetarian or vegan.
No new ad hoc questions were added to this month's survey.
To take a look at the complete summary report of this month's edition of the FooDS Survey for more highlights, click or tap here.
Source - Oklahoma State University
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