Setting farm product pricing is challenging for new and experienced growers. Correct pricing will affect sales, marketing strategies and ultimately, determine farm viability. At the 2013 Harvest New England Agricultural Marketing Conference & Trade Show in Sturbridge, MA, Michael Sciabarrasi and Nada Haddad of UNH Cooperative Extension recommended pricing models and addressed market trends. Tracie Smith of Tracie Smith’s Community Farm shared her plans to adjust product pricing for the 2013 season.
Pricing decisions must account for every production and processing expense including transportation and marketing. Other factors to consider are competition and farm branding. Farm entrepreneurs must thoroughly understand, track and account for every expense when setting prices to keep the farm business sustainable. Correct pricing is a critical for success whether you sell at farmers markets or wholesale, offer a Community Supported Agriculture (CSA), run a Pick -Your-Own (PYO) operation or a farm stand.
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