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• Economic Analysis of a Good Quality Hungarian Dairy Farm with Leading Technology

  43-64

  Krisztián Kovács

  Views:

  234

  The research includes an economic analysis of the dairy farm based on farm data, which makes it possible to assess the cost-income ratio and partial efficiency of each sector, assuming that it operates at a good production level, and in the case of assumed greenfield investments, economy based on dynamic indicators (NPV, IRR, PI, DPP). As many domestic dairy farms produce with the most advanced technology available, and their indicators do not lag far behind the best farms in Western Europe, the so-called analyses refer to “good production standards or practices”. The performed analysis is based on a deterministic simulation modelling created from a production plant’s primary data which uses its own database. Some of the research findings are supported by data and calculations, while others are based on expert estimates and expert opinions. Based on our investigations, it can be stated that the so-called most important specific natural, economic, and investment analysis indicators of the model plant following good production practice in the case of milk production are the following: Specific annual milk yield 11,000 kg/year; Production value: 1,548.5 thousand HUF/cow; Production cost: 1,312 thousand HUF/cow; Net income: 236.5 thousand HUF/cow; EBITDA: 404.6 thousand HUF/cow; Discounted payback period without investment subsidy: 11 year; Discounted payback period at 50% subsidy intensity: 6 years.
  
  JEL codes: Q12, Q13

• The Progress of the Hungarian Dairy Prices Between 2003 and 2017

  23-35

  László Szántó

  János Szenderák

  Péter András Popovics

  Views:

  72

  There were notable changes in the dairy industry from 2012 onwards that seriously affected the Hungarian dairy market. The main events were the introduction of the Milk Package in 2012, the beginning of the Russian import ban in 2014 and the abolition of the milk quota system in 2015. These events affected the development of the domestic dairy industry, and at the same time, the Hungarian dairy sector faces long term challenges. The aim of our research is to analyse the dairy price developments between 2003 and 2017. We compare the Hungarian producer and consumer prices over time and we analyse the relationship between the domestic prices and some of the international prices as well. We calculated the coefficient of variation, price ratios and correlation for different time periods. The results indicate that there has been a strong market integration between the domestic and the international market since 2003.