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FOR IMMEDIATE RELEASE: Thursday, October 24, 2013
New MDA report explores profitability of specialty crops
Helps farmers weigh costs and profits
ST. PAUL, Minn. – The Minnesota Department of Agriculture (MDA) has released a new report detailing the financial performance of nine types of specialty crops in Minnesota along with detailed information on their costs of production.
Minnesota Specialty Crop Farm Performance 2009-12 includes financial data for apples, blueberries, cantaloupe, grapes, pumpkins, raspberries, strawberries, sweet corn, and assorted vegetables. It also includes analysis by University of Minnesota Center for Farm Financial Management (CFFM) agricultural economist Dale Nordquist and Central Lakes College Farm Business Management (FBM) instructor Thaddeus McCamant.
The report finds that over the past five years, apples, blueberries, cantaloupe, strawberries and assorted vegetables had the top gross per acre returns. After production costs were accounted for, however, strawberries and assorted vegetables proved to be the two most profitable crops.
“This report gives growers some hard financial data they can factor into decisions about what kind of fruit or vegetable production could fit their financial goals,” said MDA program administrator Meg Moynihan. “Gross returns for a lot of specialty crops can turn heads, so it’s important to have sound information about production costs, which can eat into profits.”
Minnesota Specialty Crop Farm Performance 2009-12 was produced in partnership with Minnesota State Colleges and Universities FBM programs and CFFM. The Minnesota Fruit and Vegetable Growers Association also collaborated on the project.
The data were contributed by 55 Minnesota farmers who have been enrolled in farm business management education programs offered by MnSCU campuses across the state. The privacy of individual farm data is strictly protected.
The 19-page report is available online at www.mda.state.mn.us/fbm or by calling 651-201-6012.
CONTACT: Michael Crusan, MDA Communications
Minnesota Department of Agriculture (MDA), 625 Robert Street N, St. Paul, MN 55155-2538, firstname.lastname@example.org