Turf Queensland producers have for some time struggled with the understanding of their profitability and sustainability of their business. The development of a “Turf Cost Calculator” has been commissioned by Turf Queensland. The project aims to develop a detailed whole farm economic model of key components of turf production systems. The aim is to develop a modular program that will establish production costs and the profitability of the turf production process. The Calculator is a computer-based program specifically designed for the turf production farm that will allow the individual producer to apply their particular inputs on a number of different varieties to ensure an understanding of their costs and profitability.
Cost-benefit analysis will be used as the conceptual framework for the economic evaluation. The process will guided by a project steering group to ensure industry interests are served and expectations met. This will also ensure the relevance of the final product. The main objective of the project is to develop a management tool to guide the on-farm decision making process into farm planning and budgeting while also improving the profitability and efficiency of turf grass production in Queensland.
This will produce a number of benefits including:
- Growers will be able to reduce risk by estimating more accurately the cost/benefit of production management decisions and investments
- Environmental and natural resources costs will be incorporated into farm budgeting and planning
- All growers (especially new industry entrants) will get a clear idea of the value of their product based on their actual costs