from 01.01.2012 to 01.01.2024
Krasnoyarsk, Krasnoyarsk, Russian Federation
VAK Russia 5.2.3
UDC 33
UDC 338.43
CSCSTI 06.00
CSCSTI 06.71
This study is devoted to the development of methodological and practical foundations for making informed decisions when planning and implementing investment projects in dairy farming. Research presents the analysis of the parameters of return on investment in the industry, develops the factors influencing the return on investment are identified, and recommendations for improving the efficiency of using investment resources. The research methodology included an analysis of key indicators of production, economic and investment efficiency in dairy farming in the Krasnoyarsk Region, calculation of discount rate ranges using a combined WACC and CAPM approach, as well as an assessment of ROI parameters and return on investment for acceptable payback periods. The analysis showed that under the current economic conditions, the payback of projects with a short investment lag (less than 1 year) and high ROI indicators (at least 280 %) and an average effect (at least 280 thousand rubles per 1 million rubles of investment) is achievable, but only over a horizon of 7–10 years. Reducing the discount rate to 20 % can reduce the payback period to 7 years, but does not increase the investment attractiveness of the industry. The main parameters of the payback of investment projects in dairy cattle breeding include high requirements for ROI, the need to optimize investments, an emphasis on short payback periods and taking into account the risks of extensive investments. The transition from extensive to intensive investment methods can become an important condition for the sustainable development of dairy cattle breeding in the region.
investments, dairy cattle breeding, payback, discount rate, economic efficiency, profitability
1. Sostoyanie i otdel'nye problemy sovremennogo molochnogo skotovodstva v Rossii i puti ih resheniya / M.V. Shuvarin [i dr.] //Azimut nauchnyh issledovaniy: ekonomika i upravlenie. 2020. T. 9, № 2 (31). S. 389–393.
2. Arsent'eva M.G., Kvashina O.N. Problemy i tendencii razvitiya molochnogo zhivotnovodstva v Rossii // Izvestiya Velikolukskoy gosudarstvennoy sel'skohozyaystvennoy akademii. 2020. № 3 (32). S. 55–61. EDN: https://elibrary.ru/HIVXLO.
3. Problemy i perspektivy razvitiya molochnogo skotovodstva na regional'nom urovne / A.F. Dorofeev [i dr.] // Vestnik Kurskoy gosudarstvennoy sel'skohozyaystvennoy akademii. 2023. № 6. S. 156–163. EDN: https://elibrary.ru/BPXYOG.
4. Yarkova T.M. Sostoyanie i problemy razvitiya molochnogo skotovodstva v Rossii // Prodovol'stvennaya politika i bezopasnost'. 2024. T. 11, № 1. S. 119–134. DOI:https://doi.org/10.18334/ppib.11.1.120368. EDN: https://elibrary.ru/OJJAQK.
5. Altuhov A.I. Upuschennye vozmozhnosti obespecheniya prodovol'stvennoy bezopasnosti Rossii v usloviyah usileniya sankcionnogo davleniya // Vestnik agrarnoy nauki. 2023. № 3 (102). S. 120–132.
6. Gogolev I.M., Pimenova N.B., Markovina E.V. Innovacionno-investicionnoe razvitie regional'nogo agrokompleksa // Menedzhment: teoriya i praktika. 2021. № 3-4. S. 48.
7. Gavrilova O.Yu., Ermakova I.N. Innovacii kak osnova ustoychivogo razvitiya molochnogo skotovodstva // Paradigma ustoychivogo razvitiya agropromyshlennogo kompleksa v usloviyah sovremennyh realiy: mat-ly mezhdunar. nauch.-prakt. konf., posvyasch. 70-letiyu sozdaniya FGBOU VO Krasnoyarskiy GAU. Krasnoyarsk, 2022. S. 105–108.
8. Andreev A.V. Rol' investicionnogo mehanizma podderzhki molochnogo skotovodstva v ustranenii disbalansa v strukture molochnoy otrasli // Agroprodovol'stvennaya ekonomika. 2023. № 3. S. 7–23.
9. Ishakov A.T. Kriterii ekonomicheskogo rosta regionov i ih obuslovlennost' ot urovnya razvitiya molochnogo skotovodstva //Innovacionnoe razvitie ekonomiki. 2021. T. 6, № 66. S. 102–109.
10. Ovsyanko L.A., Ozerova M.G., Fedorova M.A. Proizvodstvennyy potencial molochnogo skotovodstva Krasnoyarskogo kraya: novyy podhod k ego formirovaniyu i effektivnomu ispol'zovaniyu v usloviyah cifrovoy transformacii ekonomiki // Innovacii i prodovol'stvennaya bezopasnost'. 2023. № 2. S. 140–148.
11. Kolesnyak A.A., Zubenko E.A. Sostoyanie i tendencii razvitiya molochnogo skotovodstva v regione s kontinental'nym klimatom // Vestnik Altayskoy akademii ekonomiki i prava. 2022. № 10-3. S. 421–425.
12. Filimonova N.G., Ermakova I.N., Gavrilova O.Yu. Ocenka konkurentosposobnosti proizvodstva moloka v sel'skohozyaystvennyh organizaciyah Krasnoyarskogo kraya // Social'no-ekonomicheskiy i gumanitarnyy zhurnal Krasnoyarskogo GAU. 2023. № 3 (29). S. 51–63.
13. Gavrilova O.Yu. Sostoyanie i perspektivy ustoychivogo razvitiya molochnogo skotovodstva v Krasnoyarskom krae // Social'no-ekonomicheskiy i gumanitarnyy zhurnal Krasnoyarskogo GAU. 2021. № 3 (21). S. 31–44.
14. Ermakova I.N., Gavrilova O.Yu., Sharopatova A.V. Monitoring finansovogo sostoyaniya sel'skohozyaystvennyh predpriyatiy Krasnoyarskogo kraya // Finansovyy menedzhment. 2024. № 11. S. 53–62.
15. Parshukov D.V. Issledovanie izmeneniya dohodov i dohodnosti sel'skohozyaystvennyh organizaciy v usloviyah makroekonomicheskoy nestabil'nosti 2022–2023 godov (na materialah Krasnoyarskogo kraya) // Finansovyy menedzhment. 2024. № 11. S. 125–136.
16. Parshukov D.V. Investicionnaya deyatel'nost' v sel'skom hozyaystve regiona: sostoyanie, problemy i mehanizmy stimulirovaniya // Social'no-ekonomicheskiy i gumanitarnyy zhurnal Krasnoyarskogo GAU. 2023. № 4 (30). S. 56–69.
