Elizabeth Thilmany, Lohit Gopikonda, and Nick Presnar are excited to share the Elevating Farm Management Data (EFMD) tool. This user-friendly platform simplifies budgeting and data analysis for Maryland farmers [go.umd.edu/efmd]. This web-based tool draws from trusted data sources like the National Agricultural Statistics Service and AGNR faculty estimates to provide essential insights into key inputs such as seeds, fertilizer, and land.
One of the tool’s exciting features is the market analysis page that provides an easy-to-understand snapshot of historical statistics, including land rental rates and commodity costs. This empowers farmers to track market trends and project expenses, supporting informed decision-making for day-to-day operations and long-term investments. The EFMD tool streamlines the complex budgeting process, saving farmers valuable time and effort and contributing to their overall financial management.
“We are excited to be elevating important crop budget resources with this tool development, and it’s been a great opportunity to collaborate across different fields. We also appreciate the hard work of our interns, whose contributions have been invaluable to this effort, ” Thilmany shares. Additionally, the EFMD tool can be utilized by agricultural stakeholders who want to understand more about Maryland’s commodity producer budgets.
Northeast Risk Management funding makes the development of the EFMD tool possible, and it is offered as a free resource for the agricultural community.
On the development side, Lohit and Rishi continue to refine the tool’s features to ensure it meets the needs of Maryland farmers, with Nick joining the team this semester. Together, they have worked to create a platform that is both intuitive and efficient, supporting farmers in managing their finances in an ever-changing agricultural landscape. As a result, the EFMD tool not only simplifies the budgeting process but also helps farmers strengthen their operations in the future.
“We invite you to explore the tool today and share your feedback. While currently tailored for commodity producers, we hope to expand it to include specialty budgets in the future,” exclaims Lohit.
