Economic analysis of field crop production on a family farm

Abstract

An economic analysis of field crop (wheat, corn, triticale and sunflower) production on a family farm, representing a case-study average farm, during one production year involved calculation of production costs, gross margin, economic efficiency and rate of profitability. Calculations showed that the highest amount of gross margin was achieved with corn, followed by sunflower, triticale and wheat. The calculated values of the coefficient of efficiency were in the respective order: 3.59 for corn, 2.16 for sunflower, 1.89 for triticale and 1.79 for wheat. The share of variable costs was also indicated, with special emphasis on high costs of mineral fertilizers and machinery.

Keywords

• costs
• economic efficiency
• wheat
• corn
• triticale
• sunflower