Tuesday, June 2, 2015

Drought to cause $2.7 billion in ag losses in 2015

The drought will cause about $2.7 million in total agricultural costs in 2015 with direct job losses totaling about 8,550 and total job losses exceeding 18,600, University of California-Davis researchers said today.

The researchers were giving their first economic estimates for this year after estimating that the drought cost the California ag economy $2.2 billion last year and left some 14,000 farmworkers without jobs.

This year, researchers from UCD's Center for Watershed Sciences expect growers to fallow 564,000 acres, suffer a crop revenue loss of $844 million and incur $558 million in additional groundwater pumping costs, they told the state Board of Food and Agriculture in a meeting streamed online.

For my complete report, check CapitalPress.com soon.

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