As corn and soybean prices continue to fall, switching to organic production could be attractive to some growers despite the investment of time and monetary costs associated with the switch. Sales of organic foods reached a record $32.3 billion in 2013, and this year organic sales are expected to increase by 15% with organic producers unable to meet demand. If considering switching to organic production, growers must amend their production practices such as ending the use of pesticides, and wait three years before they will qualify to be certified organic. During those three years, they must follow organic production practices without yet being able to attain the higher prices that organic crops bring, which are about double what conventional crops fetch. This year U.S. farm income will be the lowest since 2010 according to the U.S. Department of Agriculture (USDA) with net farm income at $96.9 billion, down from 2013’s $122.8 billion. As the organic premium versus conventional crop prices grows, some growers may see organic production as a viable option as a way to increase their bottom line.
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