Measuring the Stochastic Monetary Benefits of Multiple Inlet Irrigation in Arkansas Rice Production
AbstractIrrigation fuel costs represent a significant portion of rice production expenses. Multiple inlet (MI) irrigation represents a water saving alternative to conventional flood irrigation. This study uses simulation to calculate the range of monetary benefits to MI in rice production. Water savings from MI relative to conventional flood irrigation along with rice yields, rice prices, and prices for key production inputs (diesel and fertilizer) are simulated, and stochastic rice net returns above variable and fixed expenses are calculated for different pump lifts with and without MI. Monetary benefits to MI are measured as the difference in net returns with and without MI. The results indicate MI monetary benefits depend greatly on pump lift and the presence or absence of a yield increase. Monetary benefits to MI increase as pump lifts become larger, and relatively small increases in yield resulting from MI irrigation can greatly enhance its payoff.
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Bibliographic InfoPaper provided by Southern Agricultural Economics Association in its series 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama with number 119655.
Date of creation: Jan 2012
Date of revision:
cost; cumulative distribution functions; multiple inlet irrigation; net return; rice; stochastic; Farm Management;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-02-08 (Agricultural Economics)
- NEP-ALL-2012-02-08 (All new papers)
- NEP-CMP-2012-02-08 (Computational Economics)
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