Ekonomska efektivnost prerade mlijeka na porodičnim poljoprivrednim gazdinstvima sjevernog dijela Crne Gore

Abstract

Osnovni cilj istraživanja bio je utvrđivanje ekonomske efektivnosti prerade mlijeka na porodičnim poljoprivrednim gazdinstvima sjevernog dijela Crne Gore. Na bazi organizaciono-ekonomskih i tehničko-tehnoloških karakteristika anketiranih gazdinstava formirani su modeli prerade mlijeka. Za ocjenu investicija primijenjene su odgovarajuće dinamičke metode investicione analize, kao što su: neto sadašnja vrijednost, interna kamatna stopa, modifikovana interna kamatna stopa i metod roka povraćaja. Rezultati ocjene investicija dobijeni navedenim metodama usko su vezani sa načinom finansiranjа investicija. Ostvareni finansijski rezultati za različite mliječne prerađevine pokazali su, da se bolji finansijski rezultati postižu u varijanti 2, prerade mlijeka za modele sa 5 i 8 krava za gazdinstva koja proizvode bijeli sir u krišci i lisnati sir, u odnosu na varijantu 1. Metode neto sadašnje vrijednosti, interne kamatne stope, kao i modifikovane interne kamatne stope pokazale su da je ekonomski neopravdano investirati u varijantu 1, modela sa 5 i 8 krava, za gazdinstva koja prerađuju mlijeko u bijeli sir u krišci, dok su ostale varijante prerade mlijeka u bijeli sir u krišci i lisnati sir ekonomski opravdane. Metoda roka povraćaja investicionih ulaganja ukazuju da je period povraćaja uloženih sredstava najduži za varijantu 1, modela sa 13 krava i varijantu 2, modela sa 8 krava gazdinstava koja prerađuju mlijeko u bijeli sir u krišci. Ocjenom investicija u uslovima neizvjesnosti utvrđena je ekonomska neopravdanost investiranja u modele prerade mlijeka u bijeli sir u krišci sa 5, 8 i 13 muznih krava. Senzitivna analiza pokazala je da neto sadašnja vrijednost po modelima za obije vrste sira, najosjetljivija na promjenu tržišne cijene proizvoda, potom na cijenu mlijeka, dok je najmanje osjetljiva na promjenu visine investicionih ulaganja.

The main aim of the research was to determine the economic efficiency of milk processing on family farms in the northern part of Montenegro. On the basis of organizational-economic and technical-technological characteristics of the surveyed farms, milk processing models were formed. Appropriate dynamic methods of investment analysis have been applied to evaluate investments, such as: net present value, internal interest rate, modified internal interest rate and payback period method. The results of investment evaluation obtained by these methods are closely related to the method of financing investments. The achieved financial results for different dairy products showed that better financial results are achieved in variant 2, milk processing for models with 5 and 8 cows for farms producing white cheese in slices and puff cheese, compared to variant 1. Net present methods values, internal interest rates, as well as modified internal interest rates have shown that it is economically unjustified to invest in variant 1, models with 5 and 8 cows, for farms processing milk into white cheese in a slice, while other variants of processing milk into white cheese sliced and leafy cheese economically justified. The payback method indicates that the payback period is the longest for variant 1, the 13-cow model and variant 2, the 8-cow model of farms processing milk into white cheese in a slice. The evaluation of investments in conditions of uncertainty determined the economic unjustification of investing in models of milk processing into white cheese in a slice with 5, 8 and 13 dairy cows. Sensitive analysis showed that the net present value according to the models for both types of cheese, the most sensitive to changes in the market price of the product, then to the price of milk, while the least sensitive to changes in investment.