By Eric Rama, Blaine Nelson and Ramsey Meigs
Consumers have shown an increased willingness to pay for premium apples over the past two decades which has led to the development of dozens of new varieties. As a result, a growing number of producers are converting their apple orchards to newer varieties to meet demand. Despite orchard conversion costs representing a significant investment, the strong returns new varieties generate often justify the decision to plant them. We expect the trend in apple orchard conversions to continue as demand for premium apples grows.
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