Economic and Financial Condition of Farms in Poland and Czechia During the COVID-19 Pandemic

Stępień Sebastian (), Smędzik-Ambroży Katarzyna (), Svobodová Eliška (), Zdráhal Ivo () and Tošović-Stevanović Aleksandra ()
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Stępień Sebastian: 1 DSc, Assoc. Prof. of Poznań University of Economics and Business, ; al. Niepodległości 10, 61-875 Poznań, Poland .
Smędzik-Ambroży Katarzyna: 2 DSc, Poznań University of Economics and Business, ; al. Niepodległości 10, 61-875 Poznań, Poland .
Svobodová Eliška: 3 PhD, Mendel University in Brno, ; 1, Zemědělská 1665, Černá Pole, 613 00 Brno-sever, Czechia .
Zdráhal Ivo: 4 Mendel University in Brno; 1, Zemědělská 1665, Černá Pole, 613 00 Brno-sever, Czechia .
Tošović-Stevanović Aleksandra: 5 PhD, Institute of International Politics and Economics, 25 Makedonska St., 11103 Belgrade, Serbia .

Zagadnienia Ekonomiki Rolnej / Problems of Agricultural Economics, 2024, vol. 378, issue 1, 30-49

Abstract: The COVID-19 pandemic has affected the functioning of the entire economy. However, the strength of the impact was not uniform across sectors, with some affected more severely and others only slightly. Due to its importance, agribusiness is of particular interest. Therefore, the aim of the publication is to assess the economic and financial condition of farms in Poland and Czechia during the COVID-19 pandemic. The study covered the 2017–2021 period. The economic and financial condition was established on the basis of the following volumes and values of indicators: total output, prices of products and inputs, export and import volumes, productivity, profitability and debt ratios. The study includes data from national statistics and the FADN agricultural accounting system and concerns two EU countries, mentioned above. Chain indices were used to show trends, while the financial analysis includes selected productivity, profitability, and debt ratios. Calculations were carried out for average values of farms and divided into economic size classes. The results indicate that the agricultural sector was not particularly vulnerable to the COVID-19 pandemic crisis in terms of changes in output, which was mainly influenced by weather factors. What did change were the higher prices of agricultural raw materials and inputs (fertilizers, fuels, feed) in 2021. In Poland the growth dynamics of the prices of sold products surpassed that of inputs, in Czechia the proportions were reversed. This translated into the values of financial indicators. In general, they improved in Poland, while in Czechia 2021 turned out to be less favourable financially. Comparing different economic classes, in Poland the results for small farms were relatively good, in Czechia the larger entities fared better under the crisis conditions.

Keywords: Polish and Czech farms; economic and financial analysis; COVID-19 pandemic crisis (search for similar items in EconPapers)
JEL-codes: Q11 Q12 Q14 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:zerpae:v:378:y:2024:i:1:p:30-49:n:5

DOI: 10.30858/zer-181138

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