@article{Ivanovic:127112,
      recid = {127112},
      author = {Ivanovic, Sanjin and Todorovic, Sasa and Nastic, Lana},
      title = {IMPACT OF ENERGY PRICES ON INCOME OF LABOUR ON FIELD CROP  OPERATIONS},
      journal = {Economics of Agriculture},
      address = {2012-07},
      number = {297-2016-3461},
      series = {Economics of Agriculture 2/2012},
      pages = {12},
      year = {2012},
      note = {Original scientific paper},
      abstract = {The starting point of the paper is the fact that the  economic effects of field crop operations
is highly  conditioned by energy prices (primarily diesel fuel prices)  as well as by the
raw material whose prices to a large  extent depend on energy price (fertilisers). Hence,
it is  determined on the basis of the model of family farm  (specialized in field crop
production) that the change in  the prices of the given inputs influences the change  in
gross margin and farm profit.
A special attention is  paid to the changes in gross margin per worker and per  working
hour, as well as to the profit per worker and per  working hour, which is caused by a
varying of the purchase  prices of raw materials, whose prices depend on energy  prices
(diesel fuel and fertilisers).
It is determined by  the analysis that diesel D-2 is distinguished because of  its importance
for profitable business operations of the  examined family farms regarding that the 20%
price increase  of diesel D-2 leads to the decrease in family farm profit  by 35.56%. In the
second place, the highest impact on the  profit is created by the prices of different  NPK
fertilisers, whereas the prices of KAN and UREA  fertilisers do not have so significant
impact on the farm  profit. By subsidizing the price of the aforementioned  inputs for family farms, it is possible to produce greater  economic effects of labour on family
farms and thus  influence the reduction of rural poverty. This solution is  acceptable
only in the short run, but in long term  perspective it is needed to emphasize investments
instead  of subsidies.},
      url = {http://ageconsearch.umn.edu/record/127112},
      doi = {https://doi.org/10.22004/ag.econ.127112},
}