Rising prices eating away at organic food growth rate
Story By: Bea Karnes
Source: NBC
USA Published 107 day(s) ago
Like all food prices, the cost of organics is going up. And since organic produce was already more expensive, the price hikes are taking a bite out of organic growth.
Analysts expect organic food sales to grow 18 percent in 2008, but that's down from 24-plus percent in recent years.
A market researcher says 52 percent of organic food buyers say they're buying fewer products because of the cost.
Organic companies are seeing competition from locally produced foods, whether they are organic or not.
