Enhancing Farm Profitability through Portfolio Analysis: The Case of Spatial Rice Variety Selection
The objectives of this paper is to use the large depth of existing literature on portfolio theory and apply it to rice varietal selection for 6 counties in the Arkansas Delta. Results based on 1999-2006 data suggests that combining available varieties using portfolio theory could have increased profits from 3 to 26% (dependent on location) in the Arkansas Delta. The major implication of this research is that data and statistical tools are available to improve the choice of rice varieties to plant each year in specific locations within Arkansas. Specifically, there are large potential gains from combining varieties that are characterized by inverse yield responses to growing conditions such as drought, pest infestation, or the presence of a specific disease.
|Date of creation:||Jan 2009|
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- Annou, Mamane Malam & Thomsen, Michael R. & Hansen, James M. & Wailes, Eric J. & Cramer, Gail L., 2001. "Implications Of Rice Biotechnology On Optimal Rice Crop Rotation In The Mississippi River Delta Region," Staff Papers 15774, University of Arkansas, Department of Agricultural Economics and Agribusiness.
- Andrew P. Barkley & Lori L. Porter, 1996. "The Determinants of Wheat Variety Selection in Kansas, 1974 to 1993," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(1), pages 202-211.
- Barkley, Andrew P. & Peterson, Hikaru Hanawa, 2008. "Wheat Variety Selection: An Application of Portfolio Theory to Improve Returns," 2008 Conference, April 21-22, 2008, St. Louis, Missouri 37597, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
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