Organic Sales Up 11 Percent; Agrium Inc. Expanding in the U.S.
The U.S. organic industry posted new records in 2015, with total organic product sales hitting a new benchmark of $43.3 billion, up 11 percent from the previous year's record level and ahead of the overall food market's growth rate of 3 percent, according to the Organic Trade Association's 2016 Organic Industry Survey.
Reuters reports that Agrium Inc., North America's biggest retail seller of products for farming, sees ample opportunities to buy and build more stores in the United States and looks to claim a quarter of the market, according to a quote by their chief executive last Thursday. The Calgary-based company has 17 percent of U.S. market share with a goal of 25 percent. Agrium bought 27 U.S. retail locations, which sell seed, fertilizer, chemicals and advisory services to farmers, during the first quarter.
Finally the conclusions of a May 17 report from the Washington, D.C.-based National Academies of Sciences, Engineering and Medicine found that genetically modified crops do not pose higher health and environmental risks, and growing them usually pays off for producers. The report concluded that GMO crops not harmful, and can also be beneficial.