Former USDA Economist Notes Rising Food Prices Amid Increased Packaging, Transport, and Storage Costs
Richard Volpe, formerly with the USDA (U.S. Department of Agriculture), highlights how higher logistics and packaging expenses are contributing to elevated food prices.
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Terms & Concepts
USDA (U.S. Department of Agriculture): A government agency responsible for developing and executing federal policies on farming, agriculture, and food.
Transportation Costs: Expenses related to moving goods from one location to another, including fuel, labor, and maintenance.
Storage Costs: Expenses incurred to store goods, such as warehouse rental and utility charges.