Tuesday, November 24, 2020

Cost of 2020 Turkey Dinner in Time of Food Insecurity

The Thanksgiving Dinner table will look quite different in 2020 than in any year we have seen before (except for a few old, old timers who were around in 1919 and 1920.)  The table will still have the turkey and all the trimming, but the number of place settings may be fewer as families shift priorities from the usual boisterous family dinner to protecting grandpa and grandma from the ravages of a virus.

As if running roughshod over our health is not enough, the nasty coronavirus is taking a bite out of some pocket books as well.  Usually an economical meal, the traditional Thanksgiving dinner will cost more this year.  The New York Farm Bureau 2020 Market Basket Survey has determined that the average total price has risen to $49.23 for a traditional meal of turkey, potatoes, dressing, cranberries, vegetable and pumpkin pie.  However, the same survey by the American Farm Bureau Federal has found a decrease in costs to $46.90 for the same meal at a national level. 

The American Farm Bureau has declared that the classic dinner remains very affordable, costing Americans about $5.00 per person for a family of ten.  Oh, if only we could safely gather in group of ten people without having to worry about whether some will leave the table with more than a full stomach.

This week Americans can be grateful for a smoothly running food supply chain.   In the early days the coronavirus pandemic appeared to disrupt delivery of critical consumer products such as toilet paper and disinfectants.  We are still waiting for decent toilet paper to return to store shelves although scratchy, thin options are seemly in ample supply. 

Some food items such as bread and eggs seemed to be in short supply at local grocery stores as consumers left work and school to eat only at home.  Kinks in the final mile have largely been worked out in the food distribution chain and grocery store shelves now seem well stocked.  The U.S. Department of Agriculture reports that there are no nationwide shortages of food.  Fortunately, the coronavirus has not been transmitted by food or food packaging, leaving the agriculture and food processing industries to cope with social distancing and ventilation issues like any other business.

A properly functioning food supply chain has not been enough to protect people from hunger.  The United Nations World Food Programme reports that the pandemic could increase the total number of undernourished people from 83 million to 132 million in 2020.  An increase in food insecurity is reality for people who have lost jobs or homes.  Feeding America network of food banks estimates that as many as 50 million Americans will experience food insecurity in 2020.  Feeding America accepts donations to help those who are facing hunger.  This year $5.00 buys a turkey dinner.   

 

 

Neither the author of the Small Cap Strategist web log, Crystal Equity Research nor its affiliates have a beneficial interest in the companies mentioned herein.

 

 

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