Due to the pandemic, the food and agriculture sector has seen a lot of volatility. Consumer spending on food fell by 47 percent in April last year, compared to three months earlier, as demand for food supplies from restaurants and other establishments fell. Food and agricultural products consumption increased in March as more people began cooking at home. Despite the heightened volatility in the sector, when the pandemic broke out, the sustainable agriculture and agtech sectors saw an increase in investor backing and spending. Around $6.9 billion will be invested in 385 enterprises in the sustainable agriculture and agtech sectors by 2020.
Insider Monkey looks at the 10 best agriculture stocks to invest in. Gladstone Land Corporation is ranked 10th. Third-party farmers are leased to the company’s lands. In June, Gladstone purchased another 639 gross acres of farmland in California. Tyson Foods, Inc. processes live-fed cattle and market pigs, grows and processes chickens, and provides breeding stock for poultry. On our list of the top agriculture stocks to buy, the company is ranked 9th. Tyson Foods was upgraded to Buy at Argus in May. FMC Corporation is ranked eighth. FMC Corporation was raised from Neutral to Buy by Monness Crespi in February, with a $126 price objective. This May, the company gave EPS and revenue forecasts for the second quarter. Nutrien Ltd. is ranked 7th among the top agricultural stocks to buy. Potash, nitrogen, phosphate, and sulfate products, as well as financial services, are available to customers. Nutrien’s price objective has been lifted by RBC Capital from $63 to $69. The Scotts Miracle-Gro Company comes in sixth. In the United States and globally, the company manufactures and sells consumer lawn and garden goods. Fertilizers, grass seed, pest and disease management treatments, and other relevant items are available. For more details, click 10 Best Agriculture Stocks to Invest In.
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