This publication describes a sample watermelon production budget for a spring season in north Florida. We estimate costs for fixed assets, equipment operation, labor, materials, services, harvesting and marketing. We also estimate yield and potential returns. A budget summary and sensitivity table are provided. A spreadsheet that can serve as a budget template accompanies the manuscript.
This 16-page analysis written by Kevin R. Athearn, Peter C. Andersen, Bent V. Brodbeck, Lei Lani L. Davis, Clay Olson, Daniel K. Fenneman, Matthew Lollar, Derek Farnsworth, and Michael Perez and published by the UF/IFAS Food and Resource Economics Department provides research-based information and a description of satsuma mandarin markets, production costs, and potential returns for citrus growers who are considering establishing a satsuma grove in north Florida. Its purpose is to serve as a reference and model for growers to create their own enterprise budgets and make financial projections. An enterprise budget estimates revenues, costs, and net returns for a particular crop or farm enterprise to help growers assess the economic viability and risk of an enterprise, compare enterprises, and evaluate production or marketing changes. The budget and financial analysis may assist prospective and current satsuma growers, agricultural consultants, and lenders with planning and decision making.http://edis.ifas.ufl.edu/fe1030
Home vegetable gardening has numerous documented benefits, including savings on the family food bill. How can a gardener calculate cost savings from a garden? Which vegetables cost more to grow in the garden and which cost less? This 10-page fact sheet written by Kevin Athearn, Hannah Wooten, Liz Felter, Catherine G. Campbell, Jessica M. Ryals, Matthew C. Lollar, Juanita Popenoe, Lorna Bravo, LuAnn Duncan, Christa Court, and Wendy Wilber and published by the UF/IFAS Food and Resource Economics Department helps home gardeners estimate the costs and cost savings from vegetable gardening
State and federal policies in the United States focus on agricultural best management practices (BMP)—such as improving nutrient management—to address water quality issues. BMP development is a challenging process as a new BMP may also affect farm profitability. This article explores the economic feasibility of nitrogen (N) management programs, including nitrogen application rates (N rates), given alternative scenarios for current nitrogen use and producer risk perceptions of carrot production in Florida. In this study, eight alternative N rates are ranked to find the economically optimal BMP. Carrot profitability is determined based on carrot yields per hectare, input costs, and carrot sale prices, using data from a 2-year carrot production experiment. The analysis applied stochastic simulation to account for the uncertain factors by using Simetar Add-In for Excel. We found that 224 kg·ha−1 N fertilizer rate is the most preferred by the producers among the eight rates considered. According to Florida’s agricultural water policy, BMP recommendations should balance water quality improvements and agricultural productivity. We consider the potential reduction of nitrogen fertilizer rate BMP from 224 kg·ha−1 to 168 kg·ha−1 and show that the effect of such reduction depends on producers’ current fertilizer application rates and their risk aversion levels. For example, reducing the N fertilizer rate from 336 kg·ha−1 to 168 kg·ha−1 decreases mean net returns by only 2% ($49/ha). In contrast, reducing the nitrogen fertilizer rate from 224 kg·ha−1 to 168 kg·ha−1 reduces the mean net returns by $151/ha, with an almost 10% reduction in the certainty equivalent of the net returns (for extremely risk-averse producers). Overall, if most producers in the region are very or extremely risk-averse, and if most of them operate close to the optimal level of fertilizer use, then setting the more restrictive BMP of 168 kg·ha−1 N can be perceived as undermining their economic profitability and require significant cost-share incentives to ensure targeted 100% adoption of BMP recommendations.
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