Andres Gallegos

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Financial tools can help farmers improve farm’s performance and assure profitability. Enterprise budgets, financial statements, and sensitivity analyses are examples of financial tools that assist farmers on their decision-making. Enterprise budgets are a reliable tool that help keep track of revenues and expenditures associated with a specific crop. Farmers using these budgets can estimate the net profits per area of production, and assess if this profit is enough money to achieve their profitability goals. Budget information can also help farmers determine the minimum quantity of produce they need to sell (breakeven yield analysis) and the minimum price (breakeven price analysis) they should charge to cover all costs. Overall, enterprise budgets can help farmers to provide a realistic projection of the income, expenses and profits of a new crop or enterprise. Building the HortBusiness Calculator for Cantaloupes Our team, at the Horticulture Business Extension program at Purdue University, is developing the[Read More…]