THE NET PRESENT VALUE OF INVESTMENTS IN RAISING AND EXPLOITING WALNUT PLANTATIONS
DOI:
https://doi.org/10.59267/ekoPolj2502483SKeywords:
walnut plantations, net present value, capitalized value, payback, internal interest rate, economic justificationAbstract
The subject of the research is the application of the net present value and methods based on it for the assessment of the economic justification of raising walnut plantations of Sejnovo variety on 3 and 10 ha, with same cultivation form and planting system. The research was conducted on the basis of data collected during the period 2022-2024. in Western Serbia. For a plantation of 3 ha, indicators of economic effectiveness per unit area are lower than indicators for a plantation of 10 ha, i.e. 53,378 €/ha<8,375 €/ha (net present value) and 69,204 €/ha<73,089 €/ ha (capitalised value). Pay-back period for a 10 ha is shorter than a 3 ha i.e. 9.24 years<9.64 years and internal rate of return for a 10 ha is higea than a 3 ha by 0.57%, i.e. 37.92%>37.35%. It is concluded that investing in establishing and exploiting walnut plantations on an area of 10 ha is more economically
Downloads
References
Andrić, J. (1998). Troškovi i kalkulacije u poljoprivrednoj proizvodnji, 3. izdanje, Savremena administracija, Beograd. [in English: Andrić, J. (1998). Costs and calculations in agricultural production, 3rd edition, Contemporary Administration, Belgrade]
Andrić, J., Vasiljević, Z., Sredojević, Z. (2005). Investicije - osnove planiranja i analize, Univerzitet u Beogradu – Poljoprivredni fakultet, Beograd. [in English: Andrić, J., Vasiljević, Z., Sredojević, Z. (2005). Investments - basics of planning and analysis, University of Belgrade - Faculty of Agriculture, Belgrade]
Apáti, F. (2014). Farm economic analyis of walnut production. International Journal of Horticultural Science, 20(1-2), 71-74
Apáti, F., Kovács, E., & Kocsis, M. (2018). Effect of postharvest on the economic viability of walnut production. International Journal of Horticultural Science, 24(1-2), 28-38
Aşkan, E. (2021). Economic Analysis and Marketing Margin of Walnut Market in Turkey. Journal of the Institute of Science and Technology, 11(4), 3163-3171
Bakhshinejad, M. (2016). Estimation of Walnut Production Function in Selected Province of Iran. Mediterranean Journal of Social Sciences, 7(2), 312-318
Bogdanović, S., & Hadžić, M. (2019). Strategic multicriteria decision-making process in agriculture. Economics of agriculture, 66(1), 89-106
Cerović, S. Golušin, B. Bijelić, S. Bogdanović, B. (2014). Rasadnička proizvodnja, Univerzitet u Novom Sadu, Poljoprivredni fakultet, Novi Sad, Srbija. [in English: Cerović, S. Golušin, B. Bijelić, S. Bogdanović, B. (2014). Nursery production, University of Novi Sad, Faculty of Agriculture, Novi Sad, Serbia]
Dobrescu, M. (2019). Romanian Walnut Production Gets Shot in the Arm, Foreign Agricultural Service, U.S. Department of Agriculture, Washington, DC, USA
Fernández-Chávez, M., Guerrero-Morales, S., Palacios-Monárrez, A., UrangaValencia, L. P., Escalera-Ochoa, L., & Pérez-Álvarez, S. (2021). Analysis of various economic production aspects in high and low density walnut orchards. Case study. Cultivos Tropicales, 42(2), e01
Food and Agriculture Organization (FAO) of the United Nations, FAOSTAT, Retrieved from https://www.fao.org/faostat/en/#data (12/11/2024)
Inobatov, A. (2024). Opportunities for the development of the walnut market within the framework of farm activities. Science and innovation, 3(A4), 37-44
Inobatov, A., & Ziyadullaev, I. (2023). Improving the methodology for predicting the yield of walnuts in farms based on econometric models. In E3S Web of Conferences (Vol. 376, p. 02001). EDP Sciences
Jaćimović, V., Adakalić, M., Ercisli, S., Božović, D., & Bujdoso, G. (2020). Fruit quality properties of walnut (Juglans regia L.) genetic resources in Montenegro. Sustainability, 12(23), 9963
Janković, D. i Janković, S. (2014). Posebno voćarstvo 3 – jezgraste voćke, Univerzitet u Prištini, Poljoprivredni fakultet, Kosovska Mitrovica - Lešak. [in English: Janković, D. i Janković, S. (2014). Special fruit growing 3 - stone fruit trees, University of Pristina, Faculty of Agriculture, Kosovska Mitrovica - Lešak]
Kljajić, N., Subić, J., Sredojević, Z. (2017). Profitability of raspberry production on holdings in the territory of Arilje. Economics of Agriculture. Vol.LXIV, No1 (1- 404), pp. 57-69 https://doi.org/10.5937/ekoPolj1701057K
Milošević, I., & Stankov, B. (2023). Management of fdi inflows in the republic of Serbia in the context of their impact on the gdp value level. Akcionarstvo, 29(1), 133-149.
Nađ, D. Sredojević, Z., Gazdić, D. (2024): Condition and Trends of Walnut Production in the World and in Republic of Serbia. Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, Volume 24, Issue 3, pp. (paper accepted for publication)
Neševski, A., & Bojičić, R. (2024). Analysis of the role of own income in financing expenditure. Akcionarstvo, 30(1), 95-111.
Očić, V., Rukavina, M., Batelja Lodeta, K., & Šakić Bobić, B. (2019). Ekonomska uspješnost ekološke proizvodnje oraha i lješnjaka–poslovna praksa. Agroeconomia Croatica, 9(1), 124-131. [in English: Očić, V., Rukavina, M., Batelja Lodeta, K., & Šakić Bobić, B. (2019). Economic success of ecological production of walnuts and hazelnuts – business practice. Agroeconomia Croatica, 9(1), 124-131]
Ostojić, V. V., Jovanović, S. V., Sredojević, Z., Novković, N. (2024). Forecasting the market price of walnuts in the Republic of Serbia using ARIMA modeling, 7th International Scientific Conference – Village and Agriculture, Book of Proceedings, University of Bijeljina – Faculty of Agriculture, 300-311
Petković, Z., Ivanova, B., Đorđević, S., Ćorić, B., & Kaputo, J. (2024). Accounting aspect of income in financial business. Oditor, 10(3), 39-51. https://doi.org/10.59864/Oditor22403ZP
Popa, R. G., Bălăcescu, A., & Popescu, L. G. (2023). Organic walnut cultivation in intensive and super-intensive system—Sustainable investment. Case study: Gorj County, Romania. Sustainability, 15(2), 1244
Rakhmonova, B. (2022). Improving the economic basis of walnut cultivation. Procedia on digital economics and financial research, 1, 31-34
Sredojević, Z. (1998). Procena vrednosti višegodišnjih zasada, Društvo agrarnih ekonomista Jugoslavije i Ekonomski institut, Beograd. [in English: Sredojević, Z. (1998). Assessment of the value of perennial plantations, Association of Agrarian Economists of Yugoslavia and Institute of Economics, Belgrade]
Sredojević, Z., Kljajić, N., Gajić, B. (2019). Brownfield investments as possibility of revitalization and sustainability of locations. Economics of Agriculture, Year 66, No.2, 2019, pp. 589–599 https://doi.org/10.5937/ekoPolj1902589S
Sredojević, Z., Nađ, D., Ostojić, V. V. (2024): Capitalized value as an indicator of the economic justification of investing in raising walnut plantation, Abstract Proceedings, 17 th Serbian Congress of Fruit and Grapevine Producers With International Participation, University of Belgrade - Faculty of Agriculture, pp. 257
Statistical Office of the Republic of Serbia (SORS), Retrieved from https://www.stat.gov.rs/ (12/12/2024)
Turk, J., & Rozman, Č. (2001). Economics of integrated walnut production in north-east Slovenia. Agroeconomia Croatica, 1(1), 55-66
Unakıtan, G., & İnan, O. (2019). The valuation of walnut orchards: a case study for Istanbul, Turkey. Custos e Agronegocio, On Line, 15(4), 249-268
Unakitan, G., & Inan, O. (2020). Energy efficiency and economic analysis of walnut production in Turkey. Erwerbs-Obstbau, 62(4)
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Ekonomika poljoprivrede
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
