Howard Buffett Foundation and ADM launch Invest an Acre initiative
April 20, 2012
The Howard G. Buffett Foundation has partnered with Archer Daniels Midland (ADM) to launch the Invest an Acre initiative which will provide food for hungry Americans. The Invest an Acre program encourages farmers to donate the profits from an acre or more of their crops to Feeding America.
"I can't think of any better group in this country than farmers that would want to help hungry people. That's what we do - we grow food," said Buffett.
In 2010, roughly 15 percent of rural and 17 percent of urban households ran short of food on more than one occasion, according to the U.S. Department of Agriculture. Feed America reports that its food banks served as many as 37 million people in 2010, up from 25 million in 2006. Some experts suggest that long distances between markets and food banks, in combination with a lack of reliable transportation, exacerbate the food shortages in rural areas.
The Howard G. Buffett Foundation will provide an opportunity to curb this problem. When farmers do business with ADM, they will have the opportunity at the point of sale, contract signing or delivery to invest a portion of their proceeds. The contributions will also help offset Feeding America costs and fund a public awareness campaign.