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Improved financial management in farming

Senior Project Researcher Panhaleak Chay, Chief of Agronomy (Pailin PDAFF) Sophanara Phan and Dr Van Touch reflect on some of the outcomes they have seen as a result of their engagement with farmers focusing on field crop monitoring and record-keeping of farm inputs and practices.

Mrs Hiep Sophat is a lowland farmer living in Phnom Yay Ma village, Banan district, Battambang. She began to be involved in the Next Generation Agricultural Extension: social relations for practice change project in October 2022, when her household participated in the census undertaken as part of Activity 2. In October 2023, she was randomly selected to take part in Activity 3B.

Since her participation in the project, Mrs Hiep Sophat has made significant behavioural and practice changes in her financial management and resource allocation strategies to her farming activities. Regular monitoring of her crops has enabled her and her husband to gain a deeper understanding of crop health and phenological development. Together they are better at managing water and identifying issues such as weeds, pests, and diseases at an early stage, allowing them to respond promptly.

Keeping detailed records of all inputs has provided a clear view of her farming cash flow and a more informed financial decisions, optimising the use of inputs. This crop monitoring and record-keeping of all inputs has enabled her and her husband to make better decisions, resulting in improved crop yields and increased profitability.

Prior to her involvement in Activity 3B, Mrs Hiep Sophat had never tracked her farming expenses and profits. She has come to understand the importance of monitoring these financial aspects through the project. She was particularly surprised to discover the high costs associated with rice farming.

Due to its benefits, she now plans to apply the same record-keeping practices to her vegetable production, allowing her to better assess the commercial viability of her farming.

“It is crucial to record all farming expenses and profits. As I record rice production costs, I will also record vegetable production costs. Seeing the income figures is truly encouraging and satisfying.”

Mrs Hiep Sophat

The knowledge and skills she has gained from her involvement in the project have also spilled over into her family’s financial management.

These outcomes are a result of an active agricultural extension approach involving multi-stakeholder collaboration (government, non-government organisation, universities) and we look forward to hearing more about Mrs Hiep Sophat’s farming practices, decision making processes, and spread of knowledge amongst her network in the future.