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ECONOMIC AND FINANCIAL ANALYSIS OF PEANUT PRODUCTION IN BULGARIA

Nelly Bencheva ; Agricultural University in Plodiv, Bulgaria
Carel Ligeon ; Auburn University-Montgomery
Stanko Delikostadinov ; Institute of Plant Genetic Resources in Sadovo, Bulgaria
Naveen Puppala ; New Mexico State University
Curtis Jolly ; Alabama Experimental Station, Auburn University, Alabama

Sažetak

Peanut is not listed as one of the major crops in the Bulgarian agricultural sector, but its economic and fi nancial viability is promising, but unknown. We use enterprise budgets, capital budgeting techniques, risk analysis and logistic regression models to examine the fi nancial and economic structure of peanut farms and to evaluate the factors infl uencing short and long-term profi tability. The results show that peanut production is a profi table venture for
most peanut farmers in Bulgaria. Long-run analyses show that peanut production may be economically feasible and producers engaged in production for a period of seven years, and at a discount rate of 13%, may generate internal rates of return (IRR) that vary from -20.57% to 67.39%. About 70% of the farms studied had IRRs greater than the discount rate. Sensitivity analyses show that profi tability of peanut production was infl uenced by yield and variable costs. There were risks at the village level associated with peanut production.

Ključne riječi

Economic; Financial; Peanut; Production; Bulgaria

Hrčak ID:

26322

URI

https://hrcak.srce.hr/26322

Datum izdavanja:

28.7.2008.

Podaci na drugim jezicima: bugarski

Posjeta: 3.163 *