Middle Georgia Peach Budget

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Middle Georgia Peach Budget Esendugue Greg Fonsah 1 Kathryn C. Taylor 2 Frank Funderburk 3 1 Dept of Ag & Applied Economics Tifton, Georgia 2 Dept of Horticulture - Byron, Georgia 3 Peach County Extension Coordinator Fort Valley, Georgia Table 1: Middle Georgia Peach Budget Assuming Full Production in the Fourth Year, 2008. Best Optimistic Median Pessimistic Worst Your Y/P Yield (lbs) 24000 17000 13000 9000 4000 Price per lb. 0.63 0.53 0.43 0.33 0.23 Item Application Unit Quantity Price $Amt/A Your Cost Variable Costs Fertilizers Nitrogen (N) + Potash 2/yr Acre 2.00 24.00 48.00 Application 2/yr Acre 2.00 2.50 5.00 Pruning Dormant pruning 1/yr Trees 120.00 1.50 180.00 Summer pruning 1/yr Trees 120.00 0.25 30.00 Thinning 1/yr Trees 120.00 2.00 240.00 Orchard removal and maintenance 1/yr Acre 1.00 50.00 50.00 Mowing 7/yr Acre 7.00 7.50 52.50 Pre-emergence 2/yr Acre 2.00 19.00 38.00 Application 3/yr Acre 3.00 4.80 14.40 Insect and Disease Control Material and labor Season Acre 1.00 295.00 295.00 Irrigation - Drip System Acre 1.00 35.00 35.00 Interest on Operating Costs $ 992.90 0.07 69.50 Total Operating Costs 1062.40

Harvesting & Marketing Costs Harvesting lb 13000.00 0.030 390.00 Custom packing lb 10400.00 0.085 884.00 Brokerage Acre 10400.00 0.03 312.00 Packing operating costs lb 10400.00 0.02 208.00 Total Harvesting and Marketing Costs 1794.00 Total Variable Costs 2856.40 Packing equipment cost lb 10400.00 0.015 156.00 Overhead and management $ 1062.40 0.150 159.36 Irrigation - Drip System Acre 1.00 93.90 93.90 Land leasing $ 1.00 100.00 100.00 Recaptured costs ($) Acre 1.00 437.09 437.09 Total ($) 946.35 Total Budgeted Cost Per Acre ($) 3,802.75

Table 2: First Year Estimated Establishment and Maintenance Cost Per Acre of Producing Peaches in Middle Georgia, 2008. Items Application Unit Quantity Price Amount Your Cost Land preparation Subsoiling Acre 2 15 30.00 Lime (Dolomite) Ton 1.50 28.00 42.00 DAP Acre 100.00 0.17 17.00 Preplant harrowing Acre 2.00 12.00 24.00 Orchard layoff Acre 2.00 3.00 6.00 Pre-plant fumigation Acre 1.00 180.00 180.00 Trees Acre 120.00 3.00 360.00 Tree preparation Acre 1.00 14.40 14.40 Planting (18' x20') Acre 1.00 10.00 10.00 Post-plant harrowing Acre 2.00 12.00 24.00 Post-plant fertilizer (19-19-19) lbs 90.00 0.18 16.20 Nitrogen 2/yr lbs 120.00 0.22 26.40 Fertilizer application Acre 3.00 4.80 14.40 Mowing 5/yr Acre 5.00 7.50 37.50 Pre-emergence 2/yr Acre 2.00 7.00 14.00 Application 3/yr Acre 3.00 4.00 12.00 Interest on operating costs $ 832.90 0.07 58.30 Total Operating Costs 891.20 Overhead and management $ 891.20 0.15 133.68 Land leasing Acre 1.00 100.00 100.00 Total 233.68 Total Establishment Costs 1124.88

Table 3: Second Year Estimated Establishment and Maintenance Cost Per Acre of Producing Peaches in Middle Georgia, 2008. Fertilizers Items Application Unit Quantity Price Amount Your Cost Spring fertilizer (19-19-19) 1/yr Trees 120.00 0.18 21.60 Nitrogen (N) 1/yr Trees 120.00 0.22 26.40 Application 2/yr Application 2.00 4.80 9.60 Pruning Dormant pruning 1/yr Trees 120.00 0.50 60.00 Fruit and sprout removal 1/yr Acre 120.00 0.10 12.00 Tree replacement 1/yr Trees 6.00 3.00 18.00 Replant 1/yr Trees 6.00 2.50 15.00 Mowing 5/yr Acre 5.00 7.50 37.50 Pre-emergence 2/yr Acre 2.00 7.00 14.00 Application 3/yr Acre 3.00 4.80 14.40 Insect and Disease Control Trunk spray, material and labor 1/yr Acre 1.00 10.00 10.00 Interest on operating costs $ 243.50 0.07 17.05 Total Operating Costs 260.55 Overhead and management $ 260.55 0.15 39.08 Land leasing $ 1.00 100.00 100.00 Total 1.00 139.08 Total Establishment Costs 399.63

Table 4: Third Year Estimated Management Cost Per Acre of Producing Peaches in Middle Georgia, 2008. Items Application Unit Quantity Price Amount Your Cost Fertilizers Nitrogen (N) + Potash 2/yr Acre 2.00 24.00 48.00 Application 2/yr Acre 2.00 2.50 5.00 Pruning Dormant pruning 1/yr Trees 120.00 0.75 90.00 Summer pruning 1/yr Trees 120.00 0.30 36.00 Thinning 1/yr Trees 120.00 0.75 90.00 Mower 7/yr Acre 7.00 7.50 52.50 Pre-emergence 2/yr Acre 2.00 19.00 38.00 Application 3/yr Hrs 3.00 4.80 14.40 Insect and Disease Control Machinery, material and labor Season Acre 1.00 262.00 262.00 Irrigation Acre 1.00 30.00 30.00 Interest on operation costs $ 670.90 0.07 46.96 Total Operating Costs 717.86 Harvesting & Marketing Costs Harvesting/bushel lbs 2400.00 0.03 72.00 Custom packing lbs 1920.00 0.09 172.80 (Fludioxinil/wax/cooling) Brokerage lbs 1920.00 0.032 61.44 Packing operation costs lbs 1920.00 0.02 38.40 Total Harvesting and Marketing 344.64 Costs Total Variable Cost 1062.50 Packing equipment lbs 1920.00 0.02 28.80 Overhead and management $ 717.86 0.15 107.68 Drip irrigation Acre 1.00 1000.00 1000.00 Land leasing $ 1.00 100.00 100.00 Total $ 1.00 1236.48 1236.48 Total Gross Establishment Costs $ 1.00 2298.98 2298.98 Returns from receipt $ 1920 0.43 825.60 Total Establishment Costs 1473.38

Table 5: Compounded and Recaptured Establishment Cost of Growing Peaches in Middle Georgia, 2008. Compounded Rate Estimated Costs Total* 3 Years to Production 1.23 1473.38 1812.26 2 Years to Production 1.14 399.63 455.57 1 Year to Production 1.07 1124.88 1203.62 Compounded Establishment Cost 3471.44 RECAPTURED ESTABLISHMENT COST Years 12 Interest rate 0.07 Annual Cost 437.09 *Totals may not add up due to rounding error.

Table 6: Profit and Loss Statement for Middle Georgia Peach Production Before Debt Service, 2008. Sales ($) 5,590.00 Less: Variable Costs ($) 2,877.20 Gross Profit ($) 2,712.80 Less: Fixed (Overhead) Costs ($) 946.35 Net Operating Profit (Loss) ($) 1,766.45 Profitability Indicators Gross Profit Margin (%) 65.12 Net Operating Profit Margin (%) 31.60 Table 7: Break-Even Analysis for Middle Georgia Peach Production, 2008. Break-Even Yield Per Acre (lbs) 8844 Break-Even Pre-harvest Operating Cost Per lb ($) 0.08 Break-Even Harvest & Marketing Cost Per lb ($) 0.14 Break-Even Variable Costs Per lb ($) 0.22 Break-Even Per lb ($) 0.07 Break-Even Costs Per lb ($) 0.29 Acknowledgment The authors would like to thank the Georgia Agricultural Commodity Commission for Peaches for sharing industry information and providing funding for developing this budget. Special thanks to the following growers: Messrs Al Pearson, Bobby Lane, Duke Lane III, Robert Dickey, and Jeff Wainwright who took time during their busy schedules to sit with the authors to provide additional information that made this budget possible.

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