sn 7-29-2023

The Sun and News, Saturday, July 29, 2023/ Page 9

Tart cherry production drops in Michigan, plagued

by bad weather, imports

Janelle D. James
Bridge Michigan
Michigan cherry season
is wrapping up, and produc-
tion is down this year
because of fluctuating
weather, declining demand
and falling prices.
All told, statewide farm-
ers expect to harvest 108
million pounds of tart cher-
ries, according to the
Cherry Marketing Institute
in DeWitt. As recently as
2018, the yield was 201
million pounds with a value
of $280 million, according
to state records.
That’s bad news in a state
that produces 70 percent of
the supply of tart cherries,
in the United States — and
farmers say their worries
began with dry weather that
plagued Michigan in June.
The influx of rain that
came in the weeks follow-
ing was more harmful than
good.
“When it does rain, we
see more severe storms and
those aren’t as nourishing
to the trees,” said Juliette

King McAvoy, spokesper-

son for Verellen Orchards

in northern Macomb

County.

“When a whole lot of

rain comes at once, it all

runs down the hill and

doesn’t soak in and nourish

the plants like a nice gentle

rain would.”

A hailstorm on July 21

was the cherry on top of a

poor season, causing tree

limbs to fall and hurting the

harvest.

Statewide, the harvest for

tart cherries (also known as

Montmorency cherries) is

between late June and early

July, but colder weather

extends the season in north-

ern Michigan.

In the Traverse City

region, where much of the

state’s cherries are grown,

farmers are trying to yield

as much of the fruit as pos-

sible after a challenging

season.

The Cherry Marketing

Institute estimates that

northern Michigan will pro-

duce only 55 million pounds

this season; currently, the

area has produced about 30

million pounds.

Sweet cherries contain

more natural sugar and are

eaten fresh, while tart cher-

ries are processed into ice

cream, yogurt and other

foods.

Over the past 10 years,

the market for tart cherries

has declined due to imports

from eastern European

countries like Turkey, mak-

ing prices drop dramatical-

ly.

Now, farmers are seeing

a decline in demand for

sweet cherries, with a 2021

report by Michigan State

University Extension find-

ing that costs for growing

them exceeded rates of

return.

“The federal government

does not protect domestic

farmers,” said King

McAvory. “Michigan grow-

ers want to see Michigan

cherries and Michigan

apples at the grocery store.”

Michigan farmers in

2019 sought a 650 percent

tariff increase on Turkish

cherries. The request was

rejected in 2021, after the

U.S. International Trade

Commission found that tart

cherry producers were “not

materially injured” by

Turkish imports and that

there weren’t enough

Turkish cherries imported

to significantly impact the

market.

Help get your teen stared with

a ROTH IRA

To be successful in most

endeavors, it’s important to

develop good habits — and

that’s certainly the case for

investors. And the earlier

one develops these habits,

the better. So, if you have

teenagers who may be start-

ing to work at part-time jobs,

now may be a great time to

introduce them to investing

— and one place to begin

might be a Roth IRA.

As you may know, a Roth

IRA is a popular retirement

savings vehicle — its earn-

ings can grow federally tax-

free, provided withdrawals

aren’t taken until the inves-

tor is at least 59½ and has

had the account five or more

years. But because a Roth

IRA is funded with after-tax

dollars, contributions can be

withdrawn at any time, pen-

alty-free, to pay for any

expenses — including col-

lege. Roth IRA earnings can

also be used to help pay for

college, although these with-

drawals will be taxable.

However, if a child is the

account owner, a lower tax

bracket will likely apply.

In 2023, up to $6,500 per

year can go into your teenag-

er’s Roth IRA, as long as the

amount contributed doesn’t

exceed the amount of their

taxable compensation for the

year. And your child doesn’t

have to put all the money in

— you and the child’s grand-

parents can also contribute.

In fact, you might want to

“match” your child’s contri-

butions up to the limit to

provide an incentive for

them to continue investing in

the Roth IRA. Not only will

your matching contribution

help build the Roth IRA’s

assets but it can also instill in

your child’s mind the benefit

of earning a match – which

can prove valuable later on,

when your child is in the

workforce full time and has

a chance to receive an

employer’s matching contri-

butions in a 401(k) or similar

plan.

Your child may well find a

job at a local restaurant or

shop, as these businesses

have experienced a shortage

of workers the past couple of

years. But if you have a fam-

ily business, you can employ

your teen to provide income

that can go into a Roth IRA.

Furthermore, if the business

is one parent’s sole propri-

etorship, or it’s a partnership

in which each partner is the

parent, the payments for a

child younger than 18 are

not subject to Social Securi-

ty and Medicare taxes. As an

employee, your child must

perform reasonable tasks

necessary for the business

and be paid reasonable wag-

es — that is, wages compa-

rable to what you’d pay a

regular employee for the

same work.

But wherever your child’s

wages come from, using

some of them to help fund a

Roth IRA can be a good

move. For one thing, it gives

you a chance to explain the

value of putting time on your

side when you invest —

simply put, the more years

you invest, the greater your

chances of accumulating the

resources you need to meet

your goals. And by helping

your teen open a Roth IRA,

which holds stocks, mutual

funds or virtually any other

type of security, you can

discuss the different risk/

reward characteristics of

various types of investments

— the kind of basic knowl-

edge that all investors should

have.

Once your teen’s first pay-

checks start coming in, con-

sider bringing up the idea of

opening a Roth IRA — you

may well be opening the

door to a lifetime of consis-

tent and informed investing.

This article was written by

Edward Jones for use by

your local Edward Jones

Financial Advisor.

Edward Jones, Member

SIPC

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Michigan’s tart cherry harvest is expected to be 108 million pounds this year,

down from 201 million pounds in 2018. (Photo provided)