Crop production expenses have more than doubled over the past 30 years, even outpacing inflation’s rate of 2.3 percent. NDSU Assistant Professor Bryon Parman says that this rate of increase is fairly consistent and aligns with production numbers over that time. Parman points to rising interest rates as an area to monitor. “We haven’t had that happen in a long time with higher interest rates so it will be something to watch if these interest rates stay high enough for long enough if there’s going to be a shuffling of these production costs.”
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