Farmers growing pulse crops usually focus on maximizing their productivity and yields, but they should also look at ways to increase their return on investment.
Sherrilyn Phelps, an Agronomy Manager with Saskatchewan Pulse Growers, noted in a recent study by University of Saskatchewan professor Dr. Jeff Schoenau that included a suggestion that she says could dramatically affect net returns.
"He has come up with a value that we should be including when we are considering are economics when growing pulses," he said. "In terms of their benefit for future crops, he's suggested that we should be adding a $25 to $50 rotational benefit when we are doing our cost of production. That can dramatically change what your net returns are."
Phelps adds farmers should also determine the return on investment on different inputs before deciding which ones to use.
She says that farmers should start focusing on maximizing their profits more.
"A lot of growers focus on the productivity sign regarding the maximum yield," she said. "Sometimes we forget about the profitability and maximizing our profits because if we can't be profitable, we're not going to be around. It's ultimately maximizing our productivity but at the same time making sure your profitability, and the two can be slightly different."
She adds that benefit could lead to a dramatic change in net returns.