16-07-2014 09:12 AM | USA

California drought will cost $2.2bn in agriculture losses

California's drought will cost the state $2.2 billion this year in losses and added expenses for its giant agriculture industry, while cutting 17,100, or 3.8%, of the state's farm jobs, according to a report released Tuesday.

The estimates by the Center for Watershed Sciences at the University of California, Davis, expand on its earlier assessment of drought impacts, which had centered on the state's Central Valley.

In addition to $810 million in estimated losses there, the center calculates that dairy and livestock producers statewide will be hit with $203 million in losses, while the need to use more groundwater will add about $500 million in pumping costs.
Full Story : Wall Street Journal