Project Leader: Afshin Ghahramani/Geoff Cockfield
Research Partner: GRDC |QDAF | The University of Queensland | NSW Department of Primary Industries |University of New England
The project is delivering an economic assessment framework and tool for growers and advisors to evaluate the economics of amelioration options against soil constraints at the paddock and farm scale. The tool, based on a digital platform that emulates similar technologies created by UniSQ and creates the opportunity for adding further research learnings over time from on-site soil samples. UniSQ offers considerable leverage opportunities in the soils, technology and economics research area.
The project looks at investment cost/hectare separate to normal input costs. This allows for a separate cost evaluation of amelioration to allow it to be classed as a farm investment. This may allow for cost to be depreciated over time. Importantly required timeline for anticipated changes is identified and the outlook of residual benefit (treatment stability). This cost will be compared to returns from current yield vs potential yield over time. The investment in dollars can be divided by the expected yield differential multiplied by the market price over time to show if anticipated returns is greater than cost. Such a bio-economic framework, looks to deliver simple cost benefit scenarios to determine break-even point or payback period for farmers and agronomists in the paddock.