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Optimal Land Allocation and Production Timing for Fresh Vegetable Growers under Price and Production Uncertainty

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  • Vassalos, Michael
  • Dillon, Carl R.
  • Coolong, Timothy

Abstract

Production timing is an essential element in fresh vegetable growers' efforts to maximize profitability and reduce income risks. The present study uses biophysical simulation modeling coupled with a dual crop (tomatoes, sweet corn) whole-farm economic formulation to analyze the effects of growers' risk aversion levels and price consideration (seasonal or annual price consideration) in expected net returns and production practices. The findings indicate that consideration of seasonal price trends results in higher expected net returns and greater opportunities to mitigate risk. Furthermore, risk aversion levels substantially influence production timing when seasonal price trends are considered.

Suggested Citation

  • Vassalos, Michael & Dillon, Carl R. & Coolong, Timothy, 2013. "Optimal Land Allocation and Production Timing for Fresh Vegetable Growers under Price and Production Uncertainty," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 45(4), pages 683-699, November.
    • Handle: RePEc:cup:jagaec:v:45:y:2013:i:04:p:683-699_00
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    Cited by:

    1. Michael Vassalos & Wuyang Hu & Timothy Woods & Jack Schieffer & Carl Dillon, 2016. "Risk Preferences, Transaction Costs, and Choice of Marketing Contracts: Evidence from a Choice Experiment with Fresh Vegetable Producers," Agribusiness, John Wiley & Sons, Ltd., vol. 32(3), pages 379-396, July.
    2. Moranga, Lawrence Ongwae & Otieno, David Jakinda & Oluoch-Kosura, Willis, 2016. "Analysis Of Factors Influencing Tomato Farmers’ Willingness To Adopt Innovative Timing Approaches For Management Of Climate Change Effects In Taita Taveta County, Kenya," Dissertations and Theses 269270, University of Nairobi, Department of Agricultural Economics.

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