The Agricultural and Food Policy Center at Texas A&M University released a report earlier this year showing the severe economic impact the COVID-19 pandemic has had on production agriculture in Texas.
Since the beginning of the pandemic, many agricultural commodity prices have dropped 20% to 30%, according to the report.
Many Texas producers already have experienced losses and could be looking at an economic downturn in the range of $6 billion - $8 billion if prices do not recover, the report said. That would amount to a loss of 27% to 36% overall.
“Our goal in producing the COVID-19 Economic Impact to Texas ...