Constructing a Southwest Florida Tomato Enterprise Budget

Enterprise budgets are effective planning tools for growers in search of help with forecasting, resource coordination, and better production decisions. In essence, enterprise budgets can help producers determine what to produce, how many acres to produce, the cost of production, and the necessary price to be profitable. This 5-page fact sheet written by Tara Wade, Barbara Hyman, Eugene McAvoy, and John VanSickle and published by the UF/IFAS Food and Resource Economics Department describes the process used to create the 2017/18 enterprise budget for tomatoes in southwest Florida and includes resources for producers interested in creating enterprise budgets for their own operations.https://edis.ifas.ufl.edu/fe1087

The Relationship Between Enterprise Budget Management and Accounting

There is a great correlation between cost budget management and accounting work. Realizing the overall disposal of the two can provide favorable support for enterprises to enhance their comprehensive market competitiveness. Therefore, improving the overall level of cost budget management and accounting work is a problem that many enterprise development strategy makers focus on under the situation that domestic enterprises are facing more and more development pressure.

Constructing a Southwest Florida Bell Peppers Enterprise Budget

Enterprise budgets can assist with forecasting as well as help managers coordinate resources, make production decisions, examine expenditures, and anticipate outcomes from changes in production practices. They can help producers determine what to produce, how many acres to produce, the cost of production, and the necessary price to be profitable. This 6-page fact sheet written by Tara Wade, Barbara Hyman, and Eugene McAvoy and published by the UF/IFAS Food and Resource Economics Department describes the process used to create the 2018-19 enterprise budget for bell peppers in southwest Florida.

Satsuma Mandarin Budget and Profitability Analysis for North Florida

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

Establishment and Production Costs for Peach Orchards in Florida: Enterprise Budget and Profitability Analysis

The article summarizes the establishment and production costs, as well as the potential profitability of a peach orchard in Florida. Our findings show the initial investment required for a peach operation in Florida to be $6,457 per acre; the expense in land preparation and planting alone in year 1 is $2,541 per acre. Variable and fixed costs in years 2 through 15 average $5,680 per acre. As an example of profitability, when using a 10% discount rate, an operation yielding 6,525 (7,254) pounds of marketable fruit per acre during its most productive years obtains a positive NPV when the average price is $2.38 ($2.13) per pound.

Incorporating Structure and Stochasticity in Muscadine Grape Enterprise Budget and Investment Analysis

We developed and investigated a stochastic farm enterprise budget framework that properly accounts for uncertainty in estimates used for investment decisions and structural dependency between yields and prices, which is generally absent in traditional (nonstochastic) budgets. In the first stage, we developed a traditional enterprise budget based on theoretical and accounting methods recommended by the American Agricultural Economics Association (AAEA) Task Force on Commodity Costs and Returns. In the second stage, we developed a probabilistic framework based on estimates derived from the traditional approach, and extended the approach to a stochastic framework through Monte Carlo simulations under specific price elasticity of demand. We applied the framework to estimate the costs, revenues, and conducted investment analysis of producing muscadine grapes (Vitis rotundifolia) in Georgia using a single-trellis system. Finally, we compared results derived from both approaches and revealed muscadine grape production and marketing to be an economically sound investment under multiple scenarios. Overall, the confidence placed on traditional budget estimates and investment outcomes was found to be overestimated at least 3-fold. This suggests that the true uncertainty in the returns and profitability of the business is grossly underestimated, erroneously painting a more promising outlook of investing in muscadine grape production.

RESPONSE OF OKRA TRANSPLANTS GROWN UNDER VisPore ROW COVER AND PLASTIC MULCH

Early okra production was evaluated using `Clemson Spineless' transplants grown under clear polyethylene mulch plus VisPore row cover (VCM), black polyethylene mulch plus VisPore row cover (VBM), clear polyethylene mulch (CM), black polyethylene mulch (BM) and bare soil (BS) for two years. Early yield (1st four harvests in early June) was significantly greater for VCM treatment while total marketable yield at the end of 8 wks were significantly greater for VCM, BM, and VBM treatments, respectively in both years. Enterprise budget analysis showed that VCM and BM treatments had the highest net-return to management on a per acre basis.