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MAKING PRECISION AGRICULTURE PAY !. Frannie Rogers BIOEN/SOIL 4213. Economics. Consider Costs Annual Cost of Precision Farming Tools Depends on equipment, software, & databases Changes in Crop Input Costs Fertilizer, herbicide, & seed Investment Costs

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making precision agriculture pay

MAKING PRECISION AGRICULTURE PAY!

Frannie Rogers

BIOEN/SOIL 4213

economics
Economics
  • Consider Costs
    • Annual Cost of Precision Farming Tools
      • Depends on equipment, software, & databases
    • Changes in Crop Input Costs
      • Fertilizer, herbicide, & seed
    • Investment Costs
      • Cost of developing “human capital”
      • Workshops, training fees, time away from work, and “wrong decisions” made while learning
economics cont
Economics (cont.)
  • Short-term Benefits
      • Site specific information improves ability to diagnose crop production problems
      • Yield restrictions caused by drainage, soil type, diseases, weeds can be identified & corrected
      • Prevention of over-application of inputs
      • Promotes good land stewardship
economics cont4
Economics (cont.)
  • Long-term Benefits
    • Data Collected & Analyzed
    • Evaluation of Management Practices
    • Comparison of Yield Variations
    • Evaluation of Crop Inputs, New Products
    • Tracks Trends & Identifies Problems
      • Changes in crop rotation & varieties
economics cont5
Economics (cont.)
  • Efficient Equipment Use
    • Increases Field Efficiency
      • Reduces overlaps & missed applications
    • Increased Machinery Utilization rate
      • Uses soil characteristics & weather to improve scheduling of operations
  • Reduces Risk
    • Reduces Variability in Net Returns
data management
Data Management
  • Costs are cut, yields improved if farmers share data & results
  • The potential of precision agriculture may be limited if large companies control precision data
  • If data is not shared, practical & profitable uses are not developed
future benefits
Future Benefits
  • Production of Accurate Maps
    • Prevents paying unnecessary premiums
    • Increases your average yield, which increases coverage & can decrease cost
    • Inaccurate maps may mean over-paying for other farm input costs
is it profitable
Is It Profitable?
  • Technology must be used in ways that fit the local farming conditions
  • One or two inputs will not consistently pay the costs of site specific data collection & use
  • Profits depend on increasing yield & or quality
is it profitable9
Is It Profitable?
  • Profitability of spatial management is linked to the crop value
  • Economics of precision agriculture are site specific
  • Whole-farm information will drive the economics of precision agriculture
conclusion
Conclusion
  • Most profitable uses
    • Diagnosis of crop problems
    • Information system applications
    • Risk management
    • Crop differentiation & process control
  • Investment of time & resources
conclusion cont
Conclusion (cont.)
  • Profitability depends on various factors
    • Crop value & yield
    • Interpretation of data collected
  • Economics change with technology
  • Make informed management decisions
  • Full capabilities may not be evident
references
References
  • An overview of Precision Farming Technology: Is It for You?
    • http://www.gov.mb.ca/agriculture/facts/fbc08s00.html
  • Economics of Precision Farming: Payoff in the Future
    • http://mollisol.agry.purdue.edu/SSMC/publications/economic_issues.html