I have never built farms, i see no reason why. I dont see a demographic that centers on farming, amount of food...like when i can sort by anything, its never food amount, there are no tool-tips that show any food amount or production. My populations are all at the max and approval is at 100% i just dont get it
Farms determine your maximum population. Every unit of food is 1 more point of maximum population on that planet. So farms are, for the most part, the best thing you can build to increase output.
You get 5 food from a colony hub, and 2 for a basic farm. That means your first farm increases total production by 40% (once the population has had time to grow). A basic factory increases manufacturing output only by 15%. Farm output bonuses also multiply with industry output bonuses, while industry bonuses only add to other industry bonuses.
So, let's say you have 1 planet set to 100% wealth.
With 5 POP and 1 market center(+10% wealth), you'll produce 5.5 money.
With 5 pop and 1 farm (+2 pop), you'll produce 7 money (after a few turns for the population to grow).
With 5 POP and 2 markets, you produce 6 cash. With the same space being used for farms, you'd produce 9. With one of each, you'd get 7.7.
With 3 markets, you get 6.5, 3 farms 11 and 2 farms and 1 market, 10.
With 4 markets you get 7, 4 farms give 13 and 2 of each, 11.
See how the farms are providing much higher output. The downside to that is, every farm usually requires you to add another approval building, so once you've got 3 or 4 the output bonus buildings begin to pull ahead in value.