A Pilot Economic Analysis of an Alternative Production Area in Livestock Farming: Worm Manure Production - Vermicomposting
Abstract
Livestock sector fulfills the needs of humanity regarding intermediate and final product through the various sub-sector embodied in itself. In livestock farming, there are meat, milk, poultry sectors as well as alternative production opportunities. These alternative production areas have importance on the sustainability of the economic potential livestock farming has created in rural areas. In Turkey, worm breeding has come into prominence lately as an alternative production area. In this research, the sustainability of the field of activity has been examined through conducting an economic analysis of data obtained from the business administration activities of an establishment operating in provincial borders of Burdur which were performed between 2015-2016. In the study, production cost, cost factors and the economic ratios of the establishment has been presented. When the cost factors of warm manure production is analyzed, it is determined that the primary cost factors for the year 2015 in a 100 square meters of production area ranges as; 46.1% for cost of worm, 33.1% for labor force, 7% for animal manure, 2.5% for electricity and water bills and 1.2% for packaging. It is established that there has not been any worm cost in 2016 and that the distribution has been sorted as 20.3% for animal manure, 56.9% for labor force, 4.8% for electricity and water bills and 5.6% for packaging costs. It is observed that the most important variable regarding the distribution of the cost factors of the establishment in 2015 and 2016 was the worm cost. It is determined that there is no need to acquire the worm to the establishment in the upcoming years since the production rate of the worm supplied in the first year of production is very high if there are no caregiving mistakes, not only it has not created a depreciation of live inventory. On the contrary, it has provided a high incidence of increase in value. Another issue reviewed in the study is the economic ratios of the establishment. As a result of the analyses, the economic ratios of the establishment are calculated as respectively; the return on equity of 62.36% in 2016 while -2.22% in 2015, economic rentability of 58.11% in 2016 while -2.22% in 2015, rentability factor of %72.04 in 2016 while -4.26% in 2015. It has been conferred that the worm manure production is a field with continuous manufacturing and market opportunity in livestock farming industry and its profitability is at a point where it will satisfy the manufacturer as of the periods examined. It can be asserted that this production branch will play an active role in rural development in the market conditions nowadays with its sustainable production structure and it will be an alternative production area for monetizing for the farmers.
Keywords
References
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Details
Primary Language
English
Subjects
Health Care Administration
Journal Section
Research Article
Publication Date
December 25, 2017
Submission Date
December 10, 2017
Acceptance Date
December 18, 2017
Published in Issue
Year 2017 Volume: 5 Number: 2
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