The latest version of AgriProfit$ crop and forages benchmarks is now available.
“These averages are calculated from the individual producer’s data collected for the 2015 growing season through the AgriProfit$ program,” said crops economist Rawlin Thangaraj. This benchmark gives a good handle on the producers’ actual costs, revenues, and margins by soil zones for different crops. Even better, it also provides the costs and returns for the top third producers where we have data available.”
The benchmarks can be used differently depending on whether or not the producer participated in the AgriProfit$ program.
“If the producer has participated in the AgriProfit$ program, they can simply download the benchmarks of the soil zone in which their farm is located,” said Thangaraj. “The producer can then understand whether they are in the average pool of producers or they are in the top third pool. If they are in the average pool, they can even identify some cost/revenue items for improvement by comparing their data to that of the top third.”
If the producers have not participated in the AgriProfit$ program, they can look at the benchmarks for the soil zones in which their farms are located.
“They can then compare their farm books (own cost and returns) to the benchmark averages and top third for the different crops. This provides them with a good idea of where their farm stands compared to the larger pool (averages) and the top third.”
Crop and forages benchmarks are published for black, brown, dark-brown, grey, peace and irrigated soil zones.
“The costs and returns don’t reflect the entire soil zone due to the limited sample size,” said Thangaraj. “Producers should exercise caution in interpreting these benchmarks as strong representation of the actual costs and returns for the corresponding soil zone. That is certainly not the case.
“Producers may have widely different management practices and may sell to different end-use markets, even for the same crop in the same soil zone. So benchmarks are posted only as an indication of the actual costs and returns. They are not meant to be a substitute for producers’ due diligence of their actual costs and returns.”
The crop and forage benchmarks are available at agriculture.alberta.ca or call 310-FARM (3276).