Financial Management Practices and Business Profitability of Sugarcane Farmers

Authors

Diana Marie S. Estoquia

La Carlota City College (La Carlota City Negros Occidental Philippines)

Trudy C. Cerbo

La Carlota City College (La Carlota City Negros Occidental Philippines)

Article Information

DOI: 10.47772/IJRISS.2026.100701018

Subject Category: Banking and Finance

Volume/Issue: 10/7 | Page No: 14958-14964

Publication Timeline

Submitted: 2026-08-06

Accepted: 2026-08-11

Published: 2026-08-19

Abstract

This study determined the financial management practices and business profitability of sugarcane farmers and examined differences in these variables according to selected farmer profiles. A quantitative descriptive-comparative research design was employed. Data were gathered from 100 sugarcane farmers selected through convenience sampling using a researcher-made structured questionnaire. The instrument demonstrated strong content validity and excellent internal consistency. Data were analyzed using frequency and percentage, mean and standard deviation, Mann–Whitney U test, and Kruskal–Wallis H test. The findings showed that most respondents were 41–60 years old (53%), male (76%), had 11–20 years of farming experience (51%), and operated more than 10 hectares (46%). Financial management practices were rated Very High (M = 4.35, SD = 0.57), with Financial Planning and Budgeting and Record Keeping obtaining the highest means (M = 4.41). Business profitability was rated High (M = 4.17, SD = 0.69), with Cost Efficiency obtaining the highest mean (M = 4.28). Significant differences in financial management practices were found according to sex and farm size, while business profitability differed significantly according to sex. No significant differences were found according to age and years in farming for financial management practices, or according to age, years in farming, and farm size for business profitability. These findings indicate that farmers generally practice sound financial management and maintain a favorable level of profitability. The results also suggest that differences in financial management practices and profitability may be associated with selected characteristics of farmers and their farming operations. Strengthening financial planning, record keeping, cash and credit management, and cost control may further support the sustainability and profitability of sugarcane farming enterprises.

Keywords

Financial Management Practices, Business Profitability, Sugarcane Farmers, Financial Planning, Cost Efficiency

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References

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