Kawartha Lakes Farmer Wins Ontario’s Most Profitable Acre Challenge!Kurtis Peeters, a Kawartha Lakes organic corn grower is the winner of the Most Profitable Acre Challenge, a competition organized by the Agri-food Management Institute (AMI) and presented in partnership with Grain Farmers of Ontario.
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What is the Most Profitable Acre Challenge?
Glad you asked!
Most Profitable Acre Competition - Highlights
This business skills competition determines the farmer with the most profitable acre harvested in corn or soybean production in Ontario by examining:
- input costs,
- production practices,
- marketing tactics, and
- business management practices.
“The difference between a successful farmer and his polar opposite is almost always the way the farmer manages his business,” said Peeters.“Rarely are luck and chance to blame for a profitable farmer, though you could probably say winning this competition was chance.”
Partly attributing his success to high organic crop prices in 2014, Peeters says knowing his cost of production and utilizing best business management techniques has influenced his bottom line year after year.
To expedite efficiency and profitability, Peeters tracks his input costs, has a written marketing plan, is a member of a business management club, has a written business plan, and sees a farm advisor on a regular basis.
“It definitely takes some last minute decision making out of the picture, which means less stress,” said Peeters. “Plans and goals are essential to profitability.”Nineteen farmers entered the competition.
“We are pleased to see farmers recognizing that proactive approaches to business through planning and best practice sharing create profitable, efficient operations,” said Brenda Lammens, Board Chair of AMI. “It encourages all farmers to start dedicating as much time and effort to the management side of their business as they spend in the field.”Agriculture and the agri-food sector are a mainstay of the economy in Kawartha Lakes. According to postings, Farm Cash Receipts or sales of farm products, in Kawartha Lakes continue to increase. The total reached over $116.9 million in 2013, which was a ten million dollar increase over 2012 figures. The biggest change in the last year was seen in soybeans which jumped from sales of $12.1 million to $19.0 million. Kawartha Lakes' receipts grew significantly more, at 8.8%, than the 2.5% growth seen across the province.
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