Assessment of willingness-to-pay for bio-based fertilisers among farmers and agricultural advisors in the EU (Under review)
| Autor: | Moshkin, Egor, Garmendia Lemus, Sergio |
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| Rok vydání: | 2023 |
| DOI: | 10.5281/zenodo.7566790 |
| Popis: | Innovation is needed to ensure sustainable supply of nutrients for the agriculture. Bio-based fertilisers (i.e. fertilisers recycled from various waste streams) can be a solution. However, the transition requires significant marketing efforts, but there is very little information on the perceived value and willingness-to-pay for the newly developed bio-based fertilisers. This article fills the gap by performing a willingness-to-pay analysis using van Westendorp pricing technique and its extended version. Our results suggest that farmers prefer a 30-46% discount for bio-based fertiliser compared to the price of an equivalent mineral fertiliser. Yet the producers can charge prices equivalent to the ones of the mineral fertilisers if they aim to maximise their revenues. Our analyses exemplified on the actual data how the van Westendorp methodologies can be used to generate the insights on the price sensitivity of farmers in the EU. Combined with benchmarking studies and technical economic assessments our results can provide a valuable contribution to the development of marketing strategies and business case analyses for bio-based fertilisers. |
| Databáze: | OpenAIRE |
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