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Shutdown of local food markets may cost nearly $700 million in sales

Shutdown of local food markets may cost nearly $700 million in sales

Local and regional agriculture and food markets stand to lose up to $688.7 million in sales through May because of the shutdowns caused by the COVID-19 pandemic, according to analysts familiar with the sector. 

A reduction in sales of that magnitude would lead to a payroll decline of $103.3 million, and a total loss to the economy of up to $1.32 billion, according to a paper prepared by the analysts and circulated on Capitol Hill, where lawmakers are negotiating a $1 trillion stimulus package to offset the outbreak’s impact.

The paper recommends that Congress explicitly make local food and farm businesses eligible for assistance targeted to small businesses and require “dollars flowing to communities to support local farm and food businesses.” 

Read the full article on the Agri-Pulse website.



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