An assessment of the value of seasonal forecasting technology for Western Australian farmers
Date
2001
Authors
Petersen, Elizabeth
Fraser, R W
Journal Title
Journal ISSN
Volume Title
Publisher
Elsevier
Abstract
Of the number of seasonal forecasting systems that have been developed of late, none are of practical benefit to Western Australian farmers. This study aims to improve the methodology for assessing the value of forecasting technology ex ante to its development, using the Merredin agricultural region of Western Australia as an illustration. Results suggest that a seasonal forecasting technology that provides a 30% decrease in seasonal uncertainty increases annual profits by approximately 5%. The accumulated annual benefit to farmers in the Merredin region (an area with 754 farm holdings over 35,500 km2 of land) is approximately 2 million dollars. Hence, support is given for the development of seasonal forecasting techniques in Western Australia.
Description
Keywords
Keywords: agricultural production; economic impact; forecasting method; seasonality; weather forecasting; Australia MUDAS; Seasonal forecasting information; Seasonal uncertainty; Whole-farm modelling
Citation
Collections
Source
Agricultural Systems
Type
Journal article
Book Title
Entity type
Access Statement
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Restricted until
2037-12-31