FOR IMMEDIATE RELEASE: Wednesday, August 31, 2011
CONTACT:
Margaret Hart, Communications Coordinator
651-201-6131, Margaret.hart@state.mn.us
Organic farming profits rise in 2010
Report shows 2010 organic farming profitability improved after tough 2009
ST. PAUL, Minn. – The profitability of Minnesota organic farms improved in 2010 compared to 2009, according to a new report issued by the Minnesota Department of Agriculture (MDA). The report, titled "2010 Organic Farm Performance in Minnesota," shows improved whole-farm economic performance and stronger returns for crop and dairy enterprises.
In addition to the increase in whole-farm profitability, financial measures such as liquidity, debt repayment capacity, and net worth also improved last year. The most profitable organic crop on a per-acre basis was corn, which averaged a net return of $430.36 on owned and rented land. Organic dairies reported net returns per cow of $756.20 in 2010.
The 48-page report contains whole-farm financial summaries as well as data on individual crops and dairy. The report can be found online at www.finbin.umn.edu/docs/2010_Organic_Farm_Performance_MN.pdf or by calling MDA at 651-201-6012.
"Minnesota has nearly 700 certified organic farms, and they are an important part of our farm economy," MDA Organic and Diversification Specialist Meg Moynihan said. "We’re pleased to see net farm income for organic operations rebound after a tough year in 2009."
MDA developed the 2010 organic farming report with major funding provided by the U.S. Department of Agriculture’s Risk Management Agency. Financial information was collected from 79 certified organic farmers enrolled in Minnesota State Colleges and Universities (MnSCU) farm business management education programs. The University of Minnesota’s Center for Farm Financial Management (CFFM) compiled and analyzed the information from which the report was generated. The identity and location of individual participating farmers is kept confidential.
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