IMPACT OF SUGAR BEET PRODUCTION ON THE ECONOMIC PERFORMANCE OF FARMS IN SLOVAKIA

The paper evaluates the impact of sugar beet on the economic performance of farms in Slovakia in the period of years 2004-2014. Based on the individual farm data in Slovakia, we analyze the effect of sugar beet on ratios return on assets, subsidies per sales, sales per employee and annual wages per employee. Based on the data reflecting 72% of agricultural land in Slovakia and around 1400 farms in each of the years we conclude that sugar beet contributes to growth in productivity of the farms, wage growth and reduces the importance of public resources in the form of subsidies. Farms cultivating sugar beet achieve higher average return on assets, which, however, could not be statistically confirmed in the monitored years.