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Agricultural News


Consumers' Willingness-to-Pay for All Food, Especially Steak, Increased in Latest OSU FooDS Survey

Fri, 14 Jul 2017 16:11:29 CDT

Consumers' Willingness-to-Pay for All Food, Especially Steak, Increased in Latest OSU FooDS Survey Oklahoma State University’s Agricultural Economics Department released the summary report of the July 2017 edition of the Food Demand Survey (FooDS) this week. According to it, willingness-to-pay for all food products increased compared to a month ago, with steak gaining the most percent increase. Although, the willingness-to-pay for all meat products are below year ago levels.


Expenditures on food eaten at home decreased 2.93% from June to July and expenditures on food purchased away from home decreased 3.60%. Consumers expect lower beef, chicken and pork prices compared to one month ago. Consumers plan to buy less chicken and pork and more beef compared to last month. Plans to eat out increased compared to last month.


Several new ad hoc questions were added to this month’s survey, to gain understanding of consumers’ knowledge and purchasing/eating habits concerning popular nut varieties.


Participants were asked to identify a variety of common nuts both in and out of their respective shells.


With shells on, almost 80% of participants correctly identified the photo of the walnut. Just over half of the participants correctly identified the photo of the pecans. Only 24.2% of respondents correctly identified the hickory nut.


The majority of participants correctly identified each picture of the shelled nuts, with the exception of the hickory nuts. 88.6% of participants correctly identified the almonds and almost 80% of participants correctly identified the macadamia nuts. Only 12.3% of participants correctly identified the hickory nuts. Most participants thought the hickory nuts to be either walnuts or pecans.


Finally, participants were asked about how often they consumed each variety of nut.


The option “never” ranked highest in the pecan, walnut, macadamia, hazelnut, hickory, pistachio, and chestnut categories. 18.9% of participants stated they eat almonds monthly. 18.6% of participants stated they eat cashews 3 - 6 times per year. About 20% of participants said they eat peanuts 7 - 11 time per year.


To take a look at the complete summary report of this edition of the FooDS Survey, click or tap here.


Source - Oklahoma State University




   

 

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