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Harvest Cost and Value of Citrus Operations with Alternative Technology: Real Options Approach

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  • Iwai, Nobuyuki
  • Emerson, Robert D.
  • Roka, Fritz M.
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    Abstract

    The prospect of immigration policy reform has renewed growers’ concerns of serious labor shortages and cost increases. These concerns are more serious for specialty crop agriculture, not only because it is highly labor intensive, but also it requires labor in a very short period, particularly at harvest time. Two representative approaches of the investment valuation have been applied to the case of harvesting mechanization for the model citrus grower in Florida. Specifically, we applied the NPV approach and the real options approach (ROA) to processed-market Hamlin orange operations in Southwest Florida.

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    Bibliographic Info

    Paper provided by Agricultural and Applied Economics Association in its series 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin with number 49942.

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    Date of creation: 11 May 2009
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    Handle: RePEc:ags:aaea09:49942

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    Keywords: Real options; NPV; mechanization; immigration policy; harvest cost; citrus operations; Agribusiness; Agricultural Finance; Farm Management; Labor and Human Capital; Risk and Uncertainty; Q14 – Agricultural Finance; J43 – Agricultural Labor Markets;

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    1. Emerson, Robert D., 2007. "Agricultural Labor Markets and Immigration," Choices, Agricultural and Applied Economics Association, vol. 22(1).
    2. Iwai, Nobuyuki & Emerson, Robert D. & Roka, Fritz M., 2009. "Labor Cost and Value of Citrus Operations with Alternative Technology: Enterprise DCF Approach," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46836, Southern Agricultural Economics Association.
    3. repec:cdl:agrebk:677103 is not listed on IDEAS
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