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UF FLAG IFAS PALMM



Budgeting costs and returns
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Permanent Link: http://ufdc.ufl.edu/UF00026156/00018
 Material Information
Title: Budgeting costs and returns
Series Title: Economic information report
Portion of title: Budgeting costs and returns for Indian River citrus production
Budgeting costs and returns for for <sic> Indian river citrus production
Physical Description: v. : ; 27 cm.
Language: English
Creator: University of Florida -- Food and Resource Economics Dept
Publisher: Food and Resource Economics Dept., Agricultural Experiment Stations and Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida
Place of Publication: Gainesville
Creation Date: 1993
Frequency: annual
regular
 Subjects
Subjects / Keywords: Citrus fruit industry -- Economic aspects -- Periodicals -- Florida -- Indian River County   ( lcsh )
Citrus fruits -- Periodicals -- Florida -- Indian River County   ( lcsh )
Genre: government publication (state, provincial, terriorial, dependent)   ( marcgt )
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General Note: Title varies slightly: <1992-93>- Budgeting costs and returns for Indian River citrus production.
General Note: Description based on: 1978-79; title from cover.
Funding: This collection includes items related to Florida’s environments, ecosystems, and species. It includes the subcollections of Florida Cooperative Fish and Wildlife Research Unit project documents, the Sea Grant technical series, the Florida Geological Survey series, the Coastal Engineering Department series, the Howard T. Odum Center for Wetland technical reports, and other entities devoted to the study and preservation of Florida's natural resources.
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Table of Contents
    Front Cover
        Front cover
    Abstract
        Page i
    Acknowledgements
        Page i
    Table of Contents
        Page ii
    List of Tables
        Page iii
    Main
        Page 1
        Page 2
        Page 3
        Page 4
        Page 5
        Page 6
        Page 7
        Page 8
        Page 9
        Page 10
    Reference
        Page 11
    Addenda
        Page 12
        Page 13
        Page 14
        Page 15
        Page 16
        Page 17
        Page 18
        Page 19
        Page 20
        Page 21
        Page 22
        Page 23
        Page 24
        Page 25
        Page 26
        Page 27
        Page 28
        Page 29
        Page 30
        Page 31
Full Text



Ronald P. Muraro
John W. Hebb


Economic Information
Report El 94-4


Budgeting Costs and Returns

for Indian River Citrus

Production, 1993-94


100
F637fe
EI94-4


Food and Resource Economics Department
Agricultural Experiment Stations
Cooperative Extension Service
Institute of Food and Agricultural Sciences
University of Florida, Gainesville 32611


September 1994

















ABSTRACT


Estimated costs and returns of growing seedless grapefruit in the Indian River area of
Florida are presented for the nineteenth consecutive year. The format presented may be used by
individual growers to budget costs and returns, utilizing individual data on specific groves.

Key words: citrus, Indian River, budgeting, costs and returns, seedless grapefruit.

NOTE: Indian River production area refers to the citrus producing counties on Florida's east
coast such as Brevard, Indian River, Palm Beach, and St. Lucie counties.

The budget cost items have been revised to reflect current grove practices being used
by growers--e.g., chemical mowing, different spray materials, higher rates of
fertilization, microsprinkler irrigation, more reset trees, etc. Therefore, the revised
costs shown may be higher than reported in previous years.

Also, to reflect increasing yields of maturing grapefruit groves in the Indian River
production region, the estimated yields for the example grove situation (Table 2) was
increased 8.3% over previous years.

The budget costs in this report represent a custom-managed operation for the
production of fresh market grapefruit. Therefore, all equipment costs are based on
the average custom rate costs and a 10 percent handling and supervision charge added
to the material cost.

Although the estimated annual per acre grove costs shown in Table 3 are represen-
tative for a mature Indian River white grapefruit grove, the grove care costs for a
specific grove site may differ depending upon the grove practices performed. For
example, extensive tree loss due to blight or tristeza could substantially increase the
tree replacement and care costs; travel and set-up costs may vary due to size of citrus
grove and distance from grove equipment barn and could add as much as $24.37 per
acre; etc.


ACKNOWLEDGEMENTS


Appreciation is extended to Mrs. Jane Wilson for typing the final draft of this manuscript.

Appreciation is also extended to the citrus growers and production managers of the Indian
River citrus production area who provided suggestions for the revision of this manuscript.








i C: ": : -: g --1. ." .I E S

















ABSTRACT


Estimated costs and returns of growing seedless grapefruit in the Indian River area of
Florida are presented for the nineteenth consecutive year. The format presented may be used by
individual growers to budget costs and returns, utilizing individual data on specific groves.

Key words: citrus, Indian River, budgeting, costs and returns, seedless grapefruit.

NOTE: Indian River production area refers to the citrus producing counties on Florida's east
coast such as Brevard, Indian River, Palm Beach, and St. Lucie counties.

The budget cost items have been revised to reflect current grove practices being used
by growers--e.g., chemical mowing, different spray materials, higher rates of
fertilization, microsprinkler irrigation, more reset trees, etc. Therefore, the revised
costs shown may be higher than reported in previous years.

Also, to reflect increasing yields of maturing grapefruit groves in the Indian River
production region, the estimated yields for the example grove situation (Table 2) was
increased 8.3% over previous years.

The budget costs in this report represent a custom-managed operation for the
production of fresh market grapefruit. Therefore, all equipment costs are based on
the average custom rate costs and a 10 percent handling and supervision charge added
to the material cost.

Although the estimated annual per acre grove costs shown in Table 3 are represen-
tative for a mature Indian River white grapefruit grove, the grove care costs for a
specific grove site may differ depending upon the grove practices performed. For
example, extensive tree loss due to blight or tristeza could substantially increase the
tree replacement and care costs; travel and set-up costs may vary due to size of citrus
grove and distance from grove equipment barn and could add as much as $24.37 per
acre; etc.


ACKNOWLEDGEMENTS


Appreciation is extended to Mrs. Jane Wilson for typing the final draft of this manuscript.

Appreciation is also extended to the citrus growers and production managers of the Indian
River citrus production area who provided suggestions for the revision of this manuscript.








i C: ": : -: g --1. ." .I E S

















TABLE OF CONTENTS


Page

ABSTRACT ............... ............................................. i

ACKNOWLEDGEMENTS ................................................. i

LIST OF TABLES ....................................................... iii

INTRODUCTION ............. .......................................... 1

METHOD OF DATA COLLECTION ........................................ 1

COSTS AND INPUTS .................................................... 1

THE GROVE SITUATION ................ ................................ 2

BUDGET COSTS AND RETURNS .......................................... 4

HISTORICAL COST TRENDS ............................................. 6

REFERENCES .......................................................... 11

ADDENDA ............................................................ 12


NOTE: The ADDENDA includes a Listing of Grove Care Programs for
Indian River Citrus Production for Both Round Oranges and
Grapefruit; 1994 custom rate summary report; cost of establishing a
citrus grove; etc. Page 12 is a list of the tables included in the
ADDENDA.



















ii


















LIST OF TABLES


Table Page

1 Schedule of production practices and budget items for an Indian River
Florida grapefruit grove, 1993-94 .................................... 3

2 Calculation of normal production per acre, 1993-94 ...................... 4

3 Estimated annual per acre costs and returns for a mature, white seedless
grapefruit grove producing for the fresh market, Indian River area, 1993-94 ... 5

4 Estimated total delivered-in cost for Indian River White grapefruit grown
for the processed juice market under three cultural cost programs, 1993-94 .... 7

5 Estimated F.O.B. cost for fresh market Indian River White grapefruit, 1993-94 8

6 Estimated annual per acre costs and returns and 5-year average costs and
returns for a mature, white seedless grapefruit grove producing citrus for fresh
fruit market in the Indian River area, 1989-90--1993-94 ................... 9

7 Estimated annual per acre costs and returns and 5-year average costs and returns
(adjusted to 1994 dollars) for a mature, white seedless grapefruit grove producing
citrus for fresh fruit market in the Indian River area, 1989-90--1993-94 ...... 10


L










BUDGETING COSTS AND RETURNS FOR INDIAN RIVER
CITRUS PRODUCTION, 1993-94


Ronald P. Muraro and John W. Hebb


INTRODUCTION


Budget analysis provides the basis for many grower decisions. Budget analysis can be used
to calculate potential profits from an operation, to determine cash requirements for an operation,
and to determine break-even prices. This report presents a budget constructed from current data
and serves as a format for growers to analyze costs and returns from their individual records.


METHOD OF DATA COLLECTION


The data presented here were developed by surveying custom operators, input suppliers,
growers, and colleagues at both the Agricultural Research and Education Center in Ft. Pierce and
the Citrus Research and Education Center in Lake Alfred. The survey is conducted annually in
February and March.


COSTS AND INPUTS


Costs for various production inputs are those collected from citrus growers as well as the
average of the data obtained from annual custom rate, chemical, and fertilizer surveys. Growers'
costs are shown in the ADDENDA, Table 1-A through 8-A. The custom rate costs are shown in
Table 9-A and the various chemical and fertilizer costs are shown in Table 10-A and 11-A in the
ADDENDA. The budget costs represent a custom-managed operation. Therefore, all equipment
costs are based upon the average custom-rate costs and a 10 percent handling and supervision
charge is added to the material cost.
Although brand names are used in many of the tables in the ADDENDA, this does not
imply endorsement by the University of Florida. It is merely an attempt to depict typical
production practices.






RONALD P. MURARO is Associate Professor of Food and Resource Economics and
Extension Farm Management Economist stationed at the Citrus Research and Education Center,
Lake Alfred. JOHN W. HEBB is Extension Agent, Citrus in St. Lucie County, Ft. Pierce.


i










All tables have a column reserved for the individual growers to insert data from a particular
grove. This will allow a comparison of the grower's costs with those presented.



THE GROVE SITUATION



Production practices for an Indian River grapefruit grove are shown in Table 1 with times
during the year when they would likely be performed. There are two benefits to developing such a
table for an individual grove. First, it shows what work is needed and when, so that operations
can be planned well in advance. Second, it can be helpful if an annual cash flow analysis is
developed to plan financing. The individual grower may benefit from developing a plan for a
particular grove.
Specific production practices vary from grove to grove making it difficult to define a "typical"
grove. Many combinations of practices and various tree variety combinations produce acceptable
yields and returns. Although the example represents a white seedless grapefruit grove, the cost
and return data are designed to be applicable to most grove situations. A grower, realtor, or land
appraiser can substitute individual grove costs and expected returns into the budget format and
develop a budget for a particular grove. A "your cost" column is appropriately provided for this
purpose in subsequent tables.
In the following budget, above noted average management and cultural practices are
assumed. Beyond this general assumption, the following specifics are assumed.




1. A mature, microsprinkler-irrigated grove;
2. Variety is white seedless on sour orange rootstock;
3. Tree loss is 3.5 percent annually;
4. Trees are pulled and replaced when production falls below
50 percent of expected yield;
5. Production is for fresh market;
6. Tree density is 83 trees per acre; and
7. Custom-caretaker is providing grove management.




As a result of tree losses and replacement, the tree ages will vary. The budget reflects the
following age distribution and yield for Indian River white seedless grapefruit:








Table .--Schedule of production practices and budget items for an Indian River Florida grapefruit grove, 1993-94'

Month

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


Total revenue: 20% Final
deposit payment

Less: Pick & haul cost X

DOC advertisement tax X

Grove expenses:

Disc

Chop Chemical Chemical

Mow X X Mow Mow X

Labor, general grove work, pull vines X X

Herbicide (1/2 grove acre equivalent) X X X

Spray: Post bloom/nutritional X X

Summer oil/greasy spot X

Fall miticide X

Supplemental miticide X

Dust

Fertilizer 54# N/A 54# N/A 54# N/A Dolomite

Hedging and topping Hedge

Brush removal/chop brush Chop brush

Tree removal X

Young tree care X X X X X

Microjet irrigation (times/week) 1 1 2 3 3 3 2 2 2 2 1 1

Miscellaneous (clean ditches) X

Grove taxes including water management X

Interest expense X

Annual principal payment on mortgage X

'This is a suggested schedule of practices. Actual practices would not necessarily be done on the exact schedule shown here.









Situation Boxes/tree
35% pulled and reset 0.0
35% 1 year old 0.0
35% 2 years old 0.0
3.5% 3 years old 1.0
3.5% 4 years old 1.7
38.5% 5-15 years old 5.5
3.5% producing 50% of expected yield 3.5
40.5% over 15 years 7.5


Calculation of normal production per acre is shown in Table 2. Note that the proportion-of-
trees-by-age column only adds to 89.5 percent since 10.5 percent of the trees are non-bearing.




Table 2.--Calculation of normal production per acre, 1993-94
Boxes Total
Age of Tree Trees /tree boxes
Total no. Proportion No. ea.
all aes ea. age age ----.. No. ..------
3 years 83 x 0.035 = 2.9 x 1.0 = 2.90
4 years 83 x 0.035 = 2.9 x 1.7 = 4.93
5-15 years 83 x 0.385 = 32.0 x 5.5 = 176.00
Prod. 50% of
exp. yield 83 x 0.035 = 2.9 x 3.5 = 10.15
Over 15 years 83 x 0.405 = 33.6 x 7.5 = 252.00
Total boxes = 445.98

"Proportion adds up to 0.895 (89.5 percent) as 10.5 percent of the trees were non-bearing
(pulled and reset, 1 and 2 year old trees; see page 4).

BUDGET COSTS AND RETURNS


The estimated budget costs and returns for the Indian River grove situation are shown in Table
3. The budgeted costs represent one possible citrus production program and were selected from the
costs shown in the ADDENDA tables. The gross revenue estimates are based on the projected yields
in Table 3 and estimated preliminary on-tree prices for the 1993-94 season. Historical on-tree prices
for selected Florida citrus varieties are shown in Table 13-A of the ADDENDA.







Table 3.--Estimated annual per acre costs and returns for a mature, white seedless grapefruit grove producing for the fresh market, Indian River area, 1993-94'

Item Description Amount Your cost

--------------------- Dollars ---------------------
I. Revenue 446 boxes @ $3.09b 1,378.14

II. Expenses'

Weed control
Mow middles 3 times per year 25.14
Chemical mow (Table 2-A, Program #10) 2 times per year 24.14
General grove work/sprouting (2 labor hours per acre) 22.46
Herbicide (Table 2-A, Program #1, #7 & #8) 139.76 211.50
Spray program (Table 1-A, Programs #1, #3, #6, #11 & #14) 354.52
Fertilizer (Table 3-A, Program #1) 116.78
Dolomite (Table 7-A, Program #1) 1257
Pruning (maintenance)
Topping ($30250/hr. + 8.0 A/hr.) + 2.5 yrs. 15.12
Remove brush from trees ($19.11/A + 2.5 yrs.) 7.64
Hedging ($246.67/hr. + 8.0 A/hr.) + 2 yrs. 15.42
Removing/chop brush ($14.75/A + 2 yrs.) 738 4556
Tree replacement and care (1 through 3 years)
Remove trees 3 trees per acre 17.10
Prepare sites, repair mound, and plant resets Including 3 trees per acre 32.16
Supplemental fertilizer, sprout, RidomilAliette, etc. (Trees 1-3 years) Including application 2635 75.61
Microsprinkler irrigation (Table 8-A, Program #4) 127.79 ___
Drainage ditch annual cost (Table 8-A, Program #5) 28.78
Total grove care expenses 972.91

III. Management $4.00 per acre per month 48.00

IV. Total specified costs' 357.23

V. Return to land, trees, and ownership 1,020.91

VI. Break-even price for total grove care expenses

Boxes per acre Boxes per acre

325 375 425 475 525 325 375 425 475 525

$ On-tree price per box $ Delivered-in price per pound solids for eliminations'

2.99 259 2.29 2.05 1.85 1.28 1.19 1.12 1.07 1.02

'Although the estimated annual per acre grove costs shown in Table 3 are representative for a mature Indian River white seedless grapefruit grove, the grove care costs for a specific grove site may differ depending upon
the grove practices performed; e.g., a Temik application would add $138.32 per acre; water control and maintenance of ditches and canals could average $71.47 per acre; extensive tree loss due to blight or tristeza would
double the tree replacement and care costs; travel and set-up costs may vary due to size of citrus grove and distance from grove equipment barn; etc. Also, truck watering of resets could add another $7.62 per acre (average 5
waterings).
'On-tree price per box is preliminary; assumes average of all methods of sale (fresh and processed). Price assumes 75% of fruit harvested packed fresh.
'Assumes material custom applied; therefore, a 10 percent handling and supervision charge is added to material cost
'Other methods to estimate a management cost-e.g., 5% of gross sales or 10% of total grove care costs--are used in the industry. Other selected methods will give a different return to land and trees than reported here.
'Other cost items which are not included in the budget are ad valorem taxes and interest on grove investment. In addition to these cost items, overhead and administrative costs, such as water drainage/district taxes, crop
insurance, and other grower assessments, can add up to 12 percent to the total grove care costs. These costs vary from grove to grove depending on age, location, and time of purchase or grove establishment.
'Assumes 4.5 pounds solids per box, $1.88 pick and haul cost per box (includes spot picking and fruit drenching), $0.45 per box handling through packinghouse, and $0.40 per box delivery to processing plant











As shown in Table 3, the total revenue for fresh-market white seedless grapefruit is estimated
to be $1,378.14 per acre. Total specified costs are $1,020.91 and are comprised of grove care costs of
$972.91, plus management cost of $48.00. Return to land, trees, and ownership is $357.23 and
represents net return above fixed costs. The break-even price required to cover grove care costs for
seedless white grapefruit range from $2.99 to $1.85 per box on-tree and $1.28 to $1.02 per pounds
solids delivered-in for eliminations at 325 and 525 boxes per acre, respectively.
Ad valorem taxes, and overhead and administrative costs (such as water drainage district taxes,
crop insurance, and other grower assessments) can add up to 12 percent of the total grove care costs.
These costs vary from grove to grove depending on age, location, variety of fruit, etc. and should be
considered in arriving at a net return to land, trees, and ownership (total return minus total costs).
Harvest costs (pick, roadside, and hauling costs) also add to the total fruit cost delivered to either a
processing plant or fresh fruit packinghouse. Also, average annual debt payment (principal and
interest) may be as high as $530 per acre ($4,500 average debt per acre @ 10 percent interest
amortized over 20 years) which would reduce total available cash for grove expansion or other
investment.
An estimated "delivered-in" cost which includes the above mentioned additional costs (cultural/
production costs, management and regulatory costs and harvesting costs) is shown in Table 4. The
"delivered-in" cost is presented as a cost per acre, per box, and per pound solids. Three possible
budget cost scenarios are presented: 1) Typical/Historical Processed/Fresh Cultural Program; 2)
Reduced Cost Processed/Fresh Cultural Program; and 3) Low Cost Processed Cultural Program. The
first scenario represents typical costs of grove practices which have been performed during the 1980's
and early 1990's. Scenarios 2 and 3 represent costs of two possible cultural programs directed toward
reducing the expenditures during a low on-tree fruit price year. Modified spray and fertilizer
programs account for the reduced costs. NOTE: Before modifying a grove management program to
reduce costs, an evaluation of the market program (processed or fresh) yield and specific cultural
programs (nutrition, disease, etc.) for the specific grove site should be made. Also, in Table 5, the
total estimated F.O.B. cost for fresh packed white grapefruit is shown. The F.O.B. costs are
presented for "fresh fruit packout percentage rates" ranging from 50 percent to 100 percent.

HISTORICAL COST TRENDS

Annual budgets of costs and returns for mature, fresh, white seedless grapefruit in the Indian
River area have been developed and published the past four years. Estimated cost and return
histories for 1989-90 through 1992-93 along with 1993-94, and a five-year average are presented in
Table 6. The affects of recent freezes on Florida's annual grapefruit supply has resulted in a
fluctuating on-tree price per box. However, even with increasing operating costs, annual net return to
land and trees has increased over the five-year period. To allow comparisons in current values, these
same costs and returns, adjusted to 1994 dollars, are presented in Table 7.








Table 4.--Estimated total delivered-in cost for Indian River White grapefruit grown
programs, 1993-94


for the processed juice market under three cultural cost


Total Production/Cultural Costs

Interest on Operating (Cultural) Costs

Management Costs

Taxes/Regulatory Costs:
Property Tax
Water Drainage
Fly Protocol Cost

Total Taxes/Regulatory Costs

Total Direct Grower Costs

Interest on Average Capital Investment Costs

Total Grower Costs

Harvesting Costs:
Pick/Spot Pick, Roadside and Haul
Fruit Drenching (Fresh)

Total Harvesting Costs

Total Delivered-In Cost


Fresh Packed White Grapefruit
Typical/Historical
Cultural Program


$/Acre

$ 972.91

48.65

48.00


70.59
58.82
20.00

149.41

$1,218.97

419.75

$1,638.72


780.50
57.98

838.48


$/Box

$2.181

0.109

0.108


0.158
0.132
0.045

0.335

$2.733

0.941

$3.674


1.750
0.130

1.880


$/Carton

$1.0907

0.0545

0.0538


0.0791
0.0659
0.0224

0.1675

$1.3666

0.4706

$1.8372


0.8750
0.0650

0.9400


$247.20 $5.554 $2.7772


Fresh Packed White Grapefruit
Reduced Cost
Cultural Program


$/Acre S/Box $/Carton

$ 915.65 $2.053 $1.0265

45.78 0.103 0.0513

48.00 0.108 0.0538


70.59
58.82
20.00

149.41

$1,158.84

419.75

$1,578.59


780.50
57.98

838.48

$2_417.07


0.158
0.132
0.045

0.335

$2.598

0.941

$3.539


1.750
0.130

1.880


0.0791
0.0659
0.0224

0.1675

$1.2992

0.4706

$1.7698


0.8750
0.0650

0.9400


$5.419 $2.7098


Processed White Grapefruit
Low Cost
Cultural Program


$/Acre

$ 706.19


$/Box

$1.583


$/P.S.

$0.3519


35.31 0.079 0.0176

48.00 0.108 0.0239


70.59
58.82


129.41

$ 918.91

419.75

$1,338.66


735.90


735.90


0.158
0.132


0.290

$2.060

0.941

$3.001


1.650


1.650


0.0352
0.0293


0.0645

$0.4579

$0.2091

$0.6670


0.3667


0.3667


$207456 $4.651 $1.0337


Two cartons per box Refer to cultural program No fall miticide spray; fertilizer Only summer spray with oil,
P.S. = Pound Solids shown in Table 3. reduced to 125 pounds of copper, and Agri-mek;
Yield: 446 boxes/acre @ 4.5 P.S. per box nitrogen per acre. fertilizer reduced to 125
Assumes 100% packout Assumes 100% packout pounds of nitrogen per acre.


7






8




Table 5.-Estimated F.O.B. cost for fresh market Indian River White grapefruit, 1993-94

Percent Packout 50.00% Percent Packout 60.00% Percent Packout 70.00%
Box Yield Per Acre 446 Box Yield Per Acre 446 Box Yield Per Acre 446

Per Acre Per Box Per Carton Per Acre Per Box Per Carton Per Acre Per Box Per Carton

Total Production/
Cultural Costs $972.91 $4.36 $2.1814 $972.91 $3.64 $1.8178 $972.91 $3.12 $1.5582

Interest on Operating
(Cultural Costs) 48.65 0.22 0.1091 48.65 0.18 0.0909 48.65 0.16 0.0779

Management 48.00 0.22 0.1076 48.00 0.18 0.0897 48.00 0.15 0.0769

Taxes/Regulatory 149.41 0.67 0.3350 149.41 0.56 0.2792 149.41 0.48 0.2393

Interest on Average
Capital Investment 419.75 1.88 0.9411 419.75 1.57 0.7843 419.75 1.34 0.6722

Harvesting (Pick, Haul,
Etc.) 838.48 3.76 1.8800 838.48 3.13 1.5667 838.48 2.69 1.3429

Total Delivered-In Cost $2,477.20 $11.11 $5.5543 $2,477.20 $9.26 $4.6285 $2,477.20 $7.93 $3.9673

Packing & Selling 1,349.15 6.05 3.0250 1,618.98 6.05 3.0250 1,888.81 6.05 3.0250

Net Fresh Eliminations
Costs" (379.10 -1.70 -0.8500 (303.28) -1.13 -0.5667 227.46 -0.73 -0.3643

Total F.O.B. Costs $3447.25 $15.46 $7.7293 $3792.90 $14.17 $7.0869 $413855 $13.26 $66280

Percent Packout 80.00% Percent Packout 90.00% Percent Packout 100.00%
Box Yield Per Acre 446 Box Yield Per Acre 446 Box Yield Per Acre 446

Per Acre Per Box Per Carton Per Acre Per Box Per Carton Per Acre Per Box Per Carton

Total Production/
Cultural Costs $972.91 $2.73 $1.3634 $972.91 $2.42 $1.2119 $972.91 $2.18 $1.0907

Interest on Operating
(Cultural) Costs 48.65 0.14 0.0682 48.65 0.12 0.0606 48.65 0.11 0.0545

Management 48.00 0.13 0.0673 48.00 0.12 0.0598 48.00 0.11 0.0538

Taxes/Regulatory 149.41 0.42 0.2094 149.41 0.37 0.1861 149.41 0.34 0.1675

Interest on Average
Capital Investment 419.75 1.18 0.5882 419.75 1.05 0.5229 419.75 0.94 0.4706

Harvesting (Pick, Haul,
Etc.) 838.48 2.35 1.1750 838.48 2.09 1.0444 838.48 1.88 0.9400

Total Delivered-In Cost $2,477.20 $6.94 $3.4714 $2,477.20 $6.17 $3.0857 $2,477.20 $5.55 $2.7771

Packing & Selling 2,158.64 6.05 3.0250 2,428.47 6.05 3.0250 2,698.30 6.05 3.0250

Fresh Eliminations (151.64) -0.42 -0.2125 5.82 -0.20 -0.1005 0.00 0.00 0.0000

Total F.O.B. Costs $44420 $12.57 $6.2839 $4829.85 $12.02 $6.0102 $5.175.50 $11.60 $5.8021

'Represents a "net eliminations cost"; i.e., average yield of 4.50 pound solids per box times $0.75 per pound solids less a 20.00% elimination
price discount










Table 6.--Estimated annual per acre costs and returns and 5-year average costs and returns for a mature, white seedless grapefruit grove
producing citrus for fresh fruit market in the Indian River area, 1989-90--1993-94


On-tree Gross Total grove Total specified Net return to land,
Year price/box" Yield revenue care expenses costs trees, and ownership
---------------------------------------- Dollars ----------------------------------

1989-90 $5.58 401C 2,237.58 908.32 956.32 1,281.26

1990-91 $5.08 446 2,265.68 917.97 965.97 1,299.71

1991-92 $751 446 3,349.46 941.52 989.52 2,359.94

1992-93 $2.54 446 1,132.84 954.03 1,002.03 130.81

1993-94 $3.09" 446 1,378.14 972.91 1,020.91 357.02

5-yr. avg. $4.76 437 2,080.12 938.95 986.95 1,093.17

'On-tree prices for all sales methods as reported by the Florida Agricultural Statistics Service.
'Preliminary estimate by authors at time of printing and is not a published price.
'Normal expected yield was reduced 10% due to December 1989 freeze.
dA management cost of $4.00 per acre per month is included. Fixed costs such as taxes, debt service, and crop insurance are not
included.










Table 7.--Estimated annual per acre costs and returns and 5-year average costs and returns (adjusted to 1994 dollars) for a mature,
white seedless grapefruit grove producing citrus for fresh fruit market in the Indian River area, 1989-90--1993-94


Inflation On-tree Gross Total specified Net return to land,
Year factor index" price/box Yield revenue costs trees, and ownership
------------------------------ Dollars ----------------------

1989-90 103.4 $5.77 401c 2313.77 988.83 1,324.94

1990-91 103.3 $5.25 446 2,341.50 997.85 1,343.65

1991-92 102.6 $7.71 446 3,438.66 1,015.25 2,423.41

1992-93 101.2 $2.57 446 1,146.22 1,014.05 132.17

1993-94 100.0 $3.09 446 1,378.14 1,020.91 357.02

5-yr. avg. -- $4.88 437 2,132.56 1,007.38 1,125.18

"Producer price index for each year adjusted to 1994 prices (1994 = 100), with 1994 consumer price index estimated to be 120.3.
Producer price index for other years are: 1990 = 116.3; 1991 = 116.5; 1992 = 117.2; and 1993 = 118.9.

bA management cost of $4.00 per acre per month is included. Fixed costs such as taxes, debt service, and crop insurance are not
included. (Refer to Table 6.)


'Normal expected yield was reduced 10% due to December 1989 freeze.









REFERENCES


1. Florida Citrus Spray Guide 1994. Univ. of Fla. Coop. Ext. Svc. SP 43. Gainesville: Jan. 1994.

2. Koo, R. C. J., editor. Recommended Fertilizers and Nutritional Sprays for Citrus. Univ. of
Fla. Agr. Exp. Sta. Bull. 536D. Gainesville: March 1984.

3. Muraro, Ronald P. "A Listing of Estimated Comparative Indian River Citrus Production Costs
Per Acre for 1993-94." Lake Alfred Citrus Research and Education Center (CREC) Report.
Lake Alfred, FL: May 1994.

4. "Cost for Establishing, Planting, and Maintaining a Citrus Grove through Four Years
of Age, South Florida Flatwoods Area." Lake Alfred CREC Report. Lake Alfred, FL: Nov.
1989.

5. "A Listing of 1994 Custom Rates Reported by Twenty Indian River and South Florida
Citrus Caretakers." Lake Alfred CREC Report. Lake Alfred, FL: May 1994.

6. Savage, Zach. Citrus Yields Per Tree Age. Univ. of Fla. Agr. Ext. Ser. 60-8. Gainesville:
1960.

7. Tucker, D. P. H., A. K. Alva and L K. Jackson (eds.). Nutrition of Florida Citrus Tree
Growth, Fruit Yield and Environmental Considerations. Univ. of Fla. Coop. Ext. Svc. SP
Gainesville. 1994. In Press.






12



ADDENDA: Listing of Grove Care Programs for Indian River Citrus Production for Both
Round Oranges and Grapefruit"

Page

Table 1-A. Spray programs ................................................ 13

Post bloom spray ............................................... 13
Summer spray ................................................. 14
Fall spray .................................................... 14

Table 2-A Herbicide .................................................... 16

Table 3-A. D ry fertilizer .................................................. 18

Table 4-A. Liquid fertilizer (Double boom application) ........................... 19

Table 5-A. Fertigation ................................................... 20

Table 6-A. Nematicides .......................... ..................... ... 20

Table 7-A. Soil amendment ........................ ................... .... 21

Table 8-A. Irrigation--annual cost per acre .................... ........... ... 21

D rip ........................................................ 21
M icrosprinkler ................................................. 21
Drainage ditch annual costs ....................................... 22

Table 9-A. A listing of 1994 custom rates reported by twenty-four Indian River and South
Florida citrus caretakers ......................................... 23

Table 10-A. 1994 summary of average chemical price estimates ..................... 25

Table 11-A. 1994 summary of average fertilizer price estimates ...................... 27

Table 12-A. Cost for establishing, planting and maintaining a citrus grove through four
years of age, South Florida flatwoods area ............................ 29

Table 13-A. Historic prices for selected citrus varieties ............................ 30

Table 14-A. Debt which can be supported per $1,000.00 annual payment capacity ....... 31


Cu = Copper Mn = Manganese
Fe = Iron Zn = Zinc
Mg = Magnesium


'The costs in the ADDENDA represent a custom managed operation. Therefore, all equipment
costs are based upon the average custom rate costs and a 10 percent handling and supervision charge
is added to the material cost.











Table 1-A.--Spray programs


POST BLOOM SPRAY


Spray Program #1


Spray Program #2


Spray Program #3


Spray Program #4


Materials/Ingredients

Ethion 4EC
Cu (50% copper)
Zn
Mn

Ground Application
(engine driven airblast)
Total per Application


Materials/Ingredients

Cu (50% copper)
Zn, Mn, Nitrates
Kelthane MF

Ground Application
(engine driven airblast)

Total per Application


Materials/Ingredients

Morestan 25WP
Cu (50%)

Ground Application
(engine driven airblast)

Total per Application


Materials/Ingredients

Dicofol 4EC
Zn, Mn, Fe Nitrates
Cu (50%)

Ground Application
(engine driven airblast)

Total per Application


Your
Cost/Acre


Amount
/Acre

6 pts
15 lbs
5 lbs
10 lbs

250 gals


Cost/Acre

$27.19
22.11
4.13
3.63

26.40


$83.46


Your
Cost/Acre


Cost/Acre
$22.11
1.22
15.70


Amount
/Acre

15 lbs
1 pt
2.5 pts

125 gals


Amount
/Acre

2.5 lbs
10 lbs
500 gals


20.00


$59.03


Your
Cost/Acre


Cost/Acre

$35.20
14.70

36.00


$85.90


Amount
/Acre

6 pts
1 pt
15 lbs

250 gals


Your
Cost/Acre


Cost/Acre

$38.10
1.22
22.11

26.40


$87.83


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --











Table 1-A.--Spray programs (cont'd.)

POST BLOOM SPRAY (cont'd.)


Spray Program #5


SUMMER SPRAY


Spray Program #6


Spray Program #7


Spray Program #8

(Scale insects)


FALL SPRAY


Spray Program #9


Materials/Ingredients

Vendex WP

Aerial Application

Total per Application


Materials/Ingredients
Oil 97+%
Cu (50% copper)
Ethion 4EC

Ground Application
(engine driven airblast)

Total per Application


Materials/Ingredients

Cu (50% metallic)
Oil 97+%
Agri-Mek

Ground Application
(engine driven airblast)

Total per Application


Materials/Ingredients

Lorsban 4EC

Ground Application
(engine driven airblast)

Total per Application


Materials/Ingredients

Kelthane MF

Ground Application
(engine driven airblast)

Total per Application


Amount
/Acre

2 lbs

15 GPA


Amount
/Acre

5 gals
7 lbs
6 pts

500 gals


Your
Cost/Acre


Your
Cost/Acre


Cost/Acre

$45.94

6.50

$52.44


Cost/Acre

$11.94
10.32
27.19

36.00


$85.45


Amount
/Acre

7 lbs
5 gals
10 ozs

500 gals


Your
Cost/Acre


Cost/Acre

$10.32
11.94
51.59

36.00


$109.85


Amount
/Acre

7 pts

500 gals


Your
Cost/Acre


Cost/Acre

$41.97

36.00


$77.97


Amount
/Acre

6 pts

250 gals


Your
Cost/Acre


Cost/Acre

$37.69

26.40


$64.09


................................................. ........................................ --.....


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --









Table 1-A.--Spray programs (cont'd.)

FALL SPRAY (cont'd.)


Spray Program #10


Spray Program #11


Materials/Ingredients

Vendex 50WP
Sulfur

Ground Application
(engine driven airblast)

Total per Application


MaterialsfIngredients

Dicofol 4EC

Aerial Application

Total per Application


Spray Program #12


Materials/Ingredients

Vendex WP

Aerial Application

Total per Application


Spray Program #13


Spray Program #14


Materials/Ingredients

Sulfur (Dust)

Aerial Application

Total per Application


Materials/Ingredients

Vendex WP

Aerial Application

Total per Application


Amount
/Acre

2 lbs
25 lbs

250 gals


Amount
/Acre

6 pts

15 GPA


Amount
/Acre

2 lbs

15 GPA


Amount
/Acre

60 lbs

15 GPA


Amount
/Acre

1.25 lbs

15 GPA


Your
Cost/Acre


Cost/Acre

$45.94
4.54

26.40


$76.88


Your
Cost/Acre








Your
Cost/Acre








Your
Cost/Acre








Your
Cost/Acre


Cost/Acre

$38.10

26.40

$64.50


Cost/Acre

$45.94

26.40

$72.34


Cost/Acre

$10.90

7.50

$18.40


Cost/Acre

$28.71

6.50

$35.21


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --









Table 2-A.--Herbicide


Herbicide Program #1
(Strip/band)


Herbicide Program #2

(Strip/band)


Materials

Solicam 80DF
Karmex WP
Roundup
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Materials

Surflan A80 DF
Simazine 4L
Roundup
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Amount/
Treated Acre
3 lbs
4 lbs
2 qts
2 pts


Cost/
Grove Acre"
$22.53
9.52
11.24
2.11

11.67


$57.07


Amount/
Treated Acre

2 qts
4 qts
2 qts
2 pts


Cost/
Grove Acre'

$15.36
8.14
11.24
2.11

11.67


$48.52


Herbicide Program #3

(Strip/band)


Herbicide Program #4

(Strip/band)


Materials

Karmex WP
Roundup
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Materials

Krovar II
Gramoxone
Adjuvant (Surfactant)

Ground Application
(2 times)

Total for 2 Applications


Amount/
Treated Acre

4 lbs
2 qts
2 pts


Cost/
Grove Acre"

$9.52
11.24
2.11

11.67


$34.54


Amount/
Treated Acre

12 lbs
6 pts
2 pts

80 gals


Cost/
Grove Acre'

$71.35
15.61
2.11

23.34


$112.41


"With respect to herbicide materials, Amount Per Grove Acre does not egual Amount Per Treated
Acre shown on the label as only a strip or band is being treated. In this report, it is assumed that only
50% or one-half of a grove acre is being treated.


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Your Cost/
Grove Acre


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --









Table 2-A.--Herbicide (cont'd.)


Herbicide Program #5

(Strip/band)


Herbicide Program #6

(Strip/band)


Materials

Solicam 80DF
Simazine 4L
Roundup

Ground Application
(1 time)

Total for 1 Application


Materials

Roundup
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Amount/
Treated Acre
4 lbs
4 qts
2 qts

40 gals


Cost/
Grove Acre"

$30.03
8.14
11.24

11.67


$61.08


Amount/
Treated Acre

4 qts
2 pts

40 gals


Cost/
Grove Acre"

$22.48
2.11


11.67


$36.26


Herbicide Program #7

(Strip/band)


Herbicide Program #8

(Strip/band)


Materials

Krovar I
Roundup
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Materials

Roundup
Princep (Caliber 90)
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Amount/
Treated Acre

5 lbs
2 qts
2 pts

40 gals


Cost/
Grove Acre"

$25.19
11.24
2.11

11.67


$50.21


Amount/
Treated Acre

2 qts
4 lbs
2 pts

50 gals


Cost/
Grove Acre"

$11.24
7.46
2.11

11.67


$32.48


Herbicide Program #9

(Strip/band)


Materials

Direx 4L
Solicam
Adjuvant (Surfactant)
Ground Application
(1 time)

Total for 1 Application


Amount/
Treated Acre

3 qts
3 lbs
2 pts

50 gals


Cost/
Grove Acre"

$ 8.61
22.52
2.11

11.67


$44.91


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Your Cost/
Grove Acre


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --








Table 2-A.--Herbicide (cont'd.)


Herbicide Program #10

(Chemical mow)


Materials

Roundup
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Amount/ Cost/
Treated Acre Grove Acre'

1 pt $2.81
0.5 pt 1.06

8.20


$12.07


Herbicide Program #11

(Chemical mow)


Materials

Roundup
Adjuvant (Surfactant)

Ground Application
(1 time)

Total for 1 Application


Amount/
Treated Acre

1.5 pts
0.5 pt


Cost/
Grove Acre*

$4.22
1.06

8.20


$13.48


Herbicide Program #12

(Spot treatment for
grass/brush regrowth
under trees)


Materials

Roundup
Adjuvant (Surfactant)


Ground Application
(1 time)

Total for 1 Application


Amount/ Cost/
Treated Acre Grove Acre'

2 qts $11.24
2 pts 2.11


5.00


$18.65


Table 3-A.--Dry fertilizer


Program #1

(162 lbs N/Acre)


Program #2

(180 lbs N/Acre)


Analysis/Material
Applied

12-2-12-2.4 MgO

Application

Total for 3 Applications


Analysis/Material
Applied

12-2-12-2.4 MgO

Application

Total for 3 Applications


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Amount
/Acre

1350 lbs

3 times


Amount
/Acre

1500 lbs

3 times


Your
Cost/Acre








Your
Cost/Acre


Cost/Acre

$ 96.53

20.25

$116.78


Cost/Acre

$107.25

20.25

$127.50


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --









Table 3-A.--Dry fertilizer (cont'd.)

Analysis/Material
Program #3 Applied

(204 lbs N/Acre) 17-4-17-2.4 MgO

Application
Total for 2 Applications


Program #4

(225 lbs N/Acre)


Analysis/Material
Applied

15-2-15-2.4 MgO
Application
Total for 3 Applications


Table 4-A.--Liquid fertilizer (Double boom application)

Analysis/Material
Program #1 Applied
(180 lbs N/Acre) 10-0-10

Double Boom Application

Total for 3 Applications


Amount
/Acre

1500 lbs

3 times


Amount
/Acre
1800 lbs

3 times


Program #2
(180 lbs N/Acre)


Program #3

(180 lbs N/Acre)


Analysis/Material
Applied
10-2-10
Double Boom Application

Total for 3 Applications


Analysis/Material
Applied
10-0-10
Solican 80DF
Karmex WP

Double Boom Application

Total for 3 Applications


*Treated acre


Amount
/Acre

1200 lbs
3 times


Your
Cost/Acre


Cost/Acre

$104.28
20.25

$124.53


Your
Cost/Acre


Your
Cost/Acre


Cost/Acre

$112.20
20.25
$132.45


Cost/Acre

$ 89.10
30.00

$119.10


Amount
/Acre

1800 lbs
3 times


Amount
/Acre

1800 Ibs
3 lbs*
4 lbs*

3 times


Your
Cost/Acre


Your
Cost/Acre


Cost/Acre

$106.92
30.00

$136.92


Cost/Acre

$ 89.10
22.52
9.51

30.00

$141.13


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --









Table 5-A.--Fertigation


Program #1

(Supplemental)


Program #2

(Supplement







Program #3

(Exclusive)


Analysis/Material
Applied

10-0-10

Application

Total per Application


Analysis/Material
Applied

8-2-8

Application

Total per Application


al)


Amount
/Acre

400 lbs


Amount
/Acre

750 lbs


Cost/Acre

$19.80

8.61

$28.41


Cost/Acre

$37.13
8.61

$45.74


---------------------------------------------------------------------

Analysis/Material Amount
Applied /Acre Cost/Acre

8-2-8 2000 lbs $ 97.90

Application 16.12
Total per Application $114.02
--------------------------------------------------------------------


Table 6-A.--Nematicides


Program #1









Program #2









Program #3


Analysis/Material
Applied

Temik 15G

Application

Total per Application


Amount
/Acre

33 lbs

1 time


Cost/Acre

$129.95

12.00

$141.95


Analysis/Material Amount
Applied /Acre Cost/Acre

Nemacur 15G 67 lbs $242.54

Application 1 time 12.00

Total per Application $254.54
---------------------------------------------------------------------


Analysis/Material
Applied

Nemacur 15G

Application

Total per Application


Amount
/Acre

50 lbs

1 time


Cost/Acre

$181.00

12.00

$193.00


Your
Cost/Acre








Your
Cost/Acre








Your
Cost/Acre


Your
Cost/Acre








Your
Cost/Acre








Your
Cost/Acre


---------------------------------------------------------------------









Table 7-A.--Soil amendment


Program #1

(Every 3 years)


Program #2

(Every year)


Analysis/Material
Applied

Dolomite (Delivered)

Application

Total for 1 Application

(Average 1/3 Ton Applied/Yr)


Analysis/Material
Applied

Dolomite (Delivered)

Application

Total per Application


Table 8-A.--Irrigation--annual cost per acre


DRIP


Operating


Maintenance of System

Total Cash Expenses

Fixed Depreciation Expense

Total Cash and Fixed Expenses


Program #1

$ 28.49
(Electric)

35.90

$ 64.39

42.35

$106.74


MICROSPRINKLER


Operating


Maintenance of System

Total Cash Expenses

Fixed Depreciation Expense

Total Cash and Fixed Expenses


Program #3

$ 32.38
(Electric)

42.74

$ 75.12

52.94

$128.06


Amount
/Acre

1 ton

1 time


Amount
/Acre

1000 lbs

1 time


Your
Cost/Acre










Your
Cost/Acre


Cost/Acre

$30.17

6.95

$37.12

$12.37


Cost/Acre

$15.09

6.95

$22.04


Your
Cost/Acre


Your
Cost/Acre


Program #2

$25.64
(Diesel)

35.90

$6154

45.25

$106.79


Your
Cost/Acre


Your
Cost/Acre


Program #4

$28.49
(Diesel)

42.74

$ 71.23

56.56

$127.79


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


--- -- --- -- --- -- --- -- --- -- --- -- --- -- -- --- -- --- -- --- -- --- -- --- -- --- -- --


.







22

Table 8-A.--Irrigation--annual cost per acre (cont'd.)


DRAINAGE DITCH ANNUAL COSTS


Ditches/Canals Maintenance ($32.49/acre + 3 years)
Weed Control in Ditches/Canals
Water Control: In/Out of Ditches and Canals
Total


Your
Cost/Acre


Program #5

$10.83
10.01
7.94
$28.78






23
Table 9-A.--A listing of 1994 custom rates reported by twenty-four Indian River and South Florida citrus caretakers

Range of Rate Average
Grove Practice Unit Reported Rate' Comments

CULTIVATION AND EQUIPMENT:


Hand Labor
Tractor/Equipment Operator
Rotovate
Disc 7-8'
Disc 10'
Mow: Off-set or Side Mower
5-8'
9-10'
15-16'
V-Mower
Sickle Mower
Herbicide' (Strip/Band--Single Boom)
Herbicide' (Strip/Band--Single Boom)
Herbicide' (Strip/Band--Double Boom)
Herbicide' (Chemical Mow)
Temik/Nemacur
Plow
Backhoe
Vine Puller
Middle Buster
Mound Builder
Grader Blade
Bush Hog
Water Truck with Driver
Pickup Truck with Driver
Pickup Truck without Driver
Flatbed/Transport Truck with Driver
Tractor with Driver
Tractor without Driver

SPRAYING?

Hand Sprayer
Air Curtain Sprayer


Hour $ 850-
Hour 10.50-
Hour 25.00-
Hour 24.00-
Hour 24.00-
Hour -
Hour 20.00-
Hour 24.00-
Hour 28.00-
Hour 28.00-
Hour 30.50-
Hour 25.00-
Acre 10.25-
Acre 1150-
Acre 7.00-
Acre 13.00-
Hour 23.00-
Hour 35.00-
Hour
Hour 22.00-
Hour 25.00-
Hour 24.00-
Hour 25.00-
Hour 22.00-
Hour 20.00-
Hour 11.00-
Hour 30.00-
Hour 23.00-
Hour 14.00-


$12.00
15.00
35.00
31.50
32.00

30.00
34.00
39.00
32.00
36.50
36.00
15.75
12.00
1050
15.00
2625
44.00

34.00
34.00
34.00
34.00
34.00
27.50
18.50
45.00
30.00
19.00


$11.23 Plus transportation
12.25
3252
26.56 Average $9.25/acre
27.42
28.50
26.56 Average $9.75/acre
28.25 Average 9.50/acre
31.70 Average $838/acre
29.50 Average $950/acre
33.30
28.80 Plus materials
12.18 Plus materials
11.67 Plus materials
8.20 Plus materials
1433 Plus materials
24.45
39.64
26.00
27.06 With tractor and driver
2736 With tractor and driver
2636 Tractor/blade and driver
29.50
26.06
24.22 Average miles traveled per year: Pick-up truck --21,000 miles
15.75 Transport truck -- 15,000 miles
36.00 Average $1.25/mile
25.25
15.95


Hour S -- $ -- $40.00 Includes tractor, handgun sprayer and 2 workers
Acre 17.00 17.50 17.25 2-MPH Dicky John; Prescott Boom: $39.00/500 gal tank

AIR BLAST SPRAYER


Engine Driven PTO Powered


Acre 32.00- 42.00
Acre 22.50- 31.00
Acre
Acre


36.00 30.00- 3850 34.71
26.40 21.50- 31.00 25.94 Average $20/acre--250 GPA @ 2 MPH
20.00 17.00- 20.00 19.57 Average $18/acre-125 GPA @ 2 MPH
S 18.00


ENGINE/PTO DRIVEN SPRAYERS

Tank -- 31.00 500 gallon tank
Tank 32.00- 42.00 37.40 500 gallon tank
Tank 45.00- 62.00 53.50 500 gallon tank
Tank 64.00- 72.00 68.00 500 gallon tank
Tank -- 80.00 500 gallon tank

Fixed Wing: 4.00/acre @ 5 gallons per acre
Fixed Wing: S5.00/acre @ 10 gallons per acre
Fixed Wing: $6J0/acre @ 15 gallons per acre
Fixed Wing: $7.00/acre @ 20 gallons per acre


DUSTINGf

Ground Application
Aerial Application

FERTILIZING:'


Inject Liquid Fertilizer into Irrigation System
Liquid Boom Application:
Double Boom
Dry (Bulk)
Dry (Bulk)
Lime or Dolomite
Lime or Dolomite
Fertilize Young Trees? Hand Spread
Pert. Spreader


Acre --
Acre


$ 650
7.50 70 per pound (aerial)


Hour -- S -- $ 27.00 Includes tractor, driver and fertilizer tank; $1.00/acre


Acre
Acre 6.00- 8.00
Ton 17.50- 20.00
Acre 6.00- 9.00
Ton 750- 10.00
Hour 850- 12.00
Hour 22.00- 35.00


11.50
6.75 Average $2533/hour
18.66
6.95
8.50
11.23 Plus transportation; one reporting 100/tree
28.19 Plus materials; $7.00/acre


One reporting travel to/from grove site at one hour per day of pickup truck rate.


(OVER)


500 GPA
250 GPA
125 GPA
100 GPA


Dilute
2X
3X
4X
6X

Aerial
Aerial
Aerial
Aerial







Table 9-A.--A listing of 1994 custom rates reported by twenty-four Indian River and South Florida citrus caretakers (cont'd.)

Range of Rate Average
Grove Practice Unit Reported Rate' Comments

IRRIGATION:


Ditch Ceaning Trac Hoe
Water Furrow Disc
Water Furrow Cleaner
Water Furrow Shaper
Rotary Ditcher or Auger
Water Slinger
Water Trencher
Ring Young Trees: Mechanical
Hand Labor
4 Wheeler for Microsprinkler with Driver
Microsprinkler Maintenance

REMOVING TREES:

Front End Loader
Tree Shearing (Cutting Tree at Ground
Level)

PRUNING:

General Pruning (Per Man)
Saw with Operator
Hedging:
Single Side (Tractor Mounted)
Single Side (Tractor Pulled)
Double Side (Tractor Pulled)
Double Side (Self Propelled)
Double Side (Self Propelled)
Topping:
Tractor Pulled
Single Boom (Self Propelled)


Double Sided Topper
Double Boom (Self Propelled)
Limb Lifter/Tree Skirt Trimmer
Limb Lifter/Tree Skirt Trimmer
Removing Brush:
Haul Brush out of Grove
Mow Brush


COLD PROTECTION (YOUNG TREES):

Hand Labor
Microsprinkler

OTHER CUSTOM RATES:

Plant Trees (Solid Set)
Plant Trees (Resets)
Mechanic Labor
Grove Management Charge/Month:
Supervising Grove Care Operations
Handling Fruit Marketing
Supervising/Handling Chemicals/ertilizer

Consulting


Total Reported Acreage Provided Grove
Service to:


Hour
Hour
Hour
Hour
Hour
Hour
Hour
Hour
Hour
Hour
Acre/Month


Hour
Hour

Hour
Hour
Hour
Hour
Hour

Hour
Hour


S -
25.00-
25.00-

26.00-
25.00-
24.00-
20.00-
8.50-
17.50
3.00-


$ -- S45.00 5 t. bucket
36.00 29.50
34.00 28.64
110.00 3 to 5 acres/hour-annual cleaning; 2to 3 acres/hour -
34.00 28.40 \remedial cleaning
34.00 29.00
34.00 2933
26.50 23.83
12.00 11.23 Plus transportation
29.50 22.57 Average $4.00/acre: 3 & 4 wheeler
3.50 3.25 Check & repair system; parts artra


$ 40.00- $ 50.00 $45.58 Avg. range 5-20 trees per hour; bulldozer avg. $55.25/hour

45.00- 50.00 47.00 Avg. range 5-30 trees per hour



S 850- S 12.00 S 11.23 Plus transportation and pruning equipment
15.00- 20.00 17.83

50.00- 75.00 64.40 4 to 8 acres/hour
70.00- 75.00 71.67 4 to 8 acres/hour
85.00- 92.00 92.83 4 to 15 acres/hour; Double Side (Tractor Mounted): $200/hr
240.00- 250.00 246.67 8 to 20 acres/hour depending on wood size
S 315.00 12 to 25 acres/hour--double row beds; 8 to 12 acres--single
\row beds; depending on wood size
85.00- 97.00 93.67 2-5 ac/hr depending on wood size; Tractor Mounted: $75/hr
300.00- 305.00 302.50 4 to 10 acres/hour depending on wood size; 10 to 20 acres
\lattop cut from bed tops
240.00 Avg. 5 to 25 acres depending on wood size type of cut
S 495.00 2 to 10 acres/hour depending on wood size; 15 to 30 acres
50.00- 60.00 56.75 3 to 5 acres/hour \flttop cut from bed tops
125.00 4 to 12 acres/hour

40.00- 46.00 44.71 Front-end loader
26.00- 32.00 29.50 Average $1050/acre


Hour $ 8.50- S12.00 S 10.60 Plus transportation and materials
Raise: 120/tree; Lower: 120/tree



Tree S 0.62- $ 1.50 $ 1.00 Varies as to density
Tree 1.75- 2.30 2.01 Varies as to the number of resets
Hour 26.00- 40.00 30.80 Labor and service truck


2.50- 6.00
1.50- 4.00
2.50- 4.00


4.08 In addition to caretaking charges
2.67 15 to 25c per box
2.75 10% to 15% of materials cost


$100 per hour for Horticultural Evaluation and/or Financial Analysis/prospectus.
$5 per acre for Cultural/Horticultural evaluation.


500- 7,000 2,328 Total acres reporting: 34,920


Source: Ronald P. Muraro, Extension Farm Management Economist, Lake Alfred CREC, May 1994.


"Plus materials. Caretakers reporting rates include labor, tractor and sprayer; supply truck included by most caretakers.

'Calculated by dividing the total number of caretakers reporting a grove practice rate into the sum reported. Unless otherwise stated, labor included with all charges.








Table 10-A.--1994 summary of average chemical price estimates


Average
Item Unit Price


Fungicides:


Aliette 80WP
Benlate
Basic Copper Sulfate (53%)
Cupric Hydroxide (50%)
Copper (50%) (Kocide 101)
Copper (40%) (Kocide 606)
Copper (40%) (Champ)
Oil 435
Oil 455
Ridomil 2E
Ridomil 5G


Insecticides/Nematicides:


Admire
Agri-Mek (0.15EC)
Bacillus thuringienses
Biovector
Carzol 92 SP
Comite 6.55 EC
Cygon 4 EC
Dicofol 4 EC
Eclipse
Ethion
Guthion 2L
Guthion 50WP
Kelthane MF
Logic Bait
Lorsban 4EC
Lorsban 15G
Malathion
Metasystox-R
Methyl Bromide 98/2
Morestan 25WP
Nemacur 3EC
Nemacur 15G
Sevin 80S
Sulphur 6F
Sulphur Dust
Supracide 2 EC
Temik 15G
Thiolux
Vapam
Vendex 50W
Vendex 4L


13.15
16.25
1.34
1.97
1.99
12.57
11.55
2.17
2.22
144.96
4.30


600.00
584.00
18.70
300.00
28.98
76.90
31.82
46.12
52.00
32.97
28.17
7.25
45.71
6.67
43.60
1.82
16.88
47.00
0.92
12.80
62.61
3.29
4.22
3.95
330.00
43.59
3.58
0.68
5.75
20.88
158.48


(Continued on Reverse Side)








Table 10-A.--1994 summary of average chemical price estimates (cont'd.)
Average
Item Unit Price


Herbicides:


Devrinol 50WP
Direx 4L
Fusilade 2000 1E
Goal
Gramoxone (Paraquat)
Hyvar X
Karmex
Krovar I
Krovar II
Poast
Princep (Caliber 90)
Princep 4L
Prowl
Rodeo (30 gal drum)
Roundup (30 gal drum)
Simazine 90 DF
Simazine 4L
Solicam
Surflan AS
Torpedo 1E
Touchdown


Growth Regulators:
Citrus Fix
Pro-Gibb 3.91%
Tre-Hold

Other Spray Materials:
Borates (15%)
Manganese (32%)
Zinc (78%)
Adjuvant (Surfactant)
Nutritional Spray Mix
Ferri Plus 138
Goemar
MZF
NutraLeaf (20-20-20)
Sequestrene 138 FE
Peter's 27-15-12 Foliar
Key Plex 350
Dyna Gro Citrate 779


lb.
gal.
gal.
gal.
gal.
lb.
lb.
lb.
lb.
gal.
lb.
gal.
gal.
gal.
gal.
lb.
gal.
lb.
gal.
gal.
gal.


7.51
20.86
69.10
72.85
37.86
14.12
4.32
9.16
10.81
104.71
3.34
14.92
31.00
98.21
40.89
3.57
14.83
13.65
55.80
48.83
60.61


510.22
32.58
74.10


0.64
0.33
0.75
15.38

7.00
29.00
6.58
0.56
10.38
0.61
16.50
7.00


gal.
20 oz.
gal.


SOURCE: Ronald P. Muraro, Extension Farm Management Economist, University of
Florida, IFAS, CREC, Lake Alfred, Florida, May 1994.







Table 11-A.--1994 summary of average fertilizer price estimates


Average
Item Unit Price

FERTILIZER (FOB Price @ Plant) $
Slow Release (Young Tree)*
IBDU: 8-4-8 (N) ton 293.00
10-3-7 (N) ton 410.00
Osmocote: 17-6-9 (NPK) ton 1,949.00
ESCOTE: 19-6-12 (NPK) ton 1,524.00
Nutralene/Hydrolene (N 40%) ton 647.50
Sulfur Coated Urea (30%-40% N) ton 350.00
Dry Mix (Bulk)
17-0-17-3g ton 149.33
17-4-17-2.4, ton 157.00
16-0-16 ton 124.50
16-0-16-2.4M ton 133.00
16-0-16-4Mg ton 153.00
16-2-16-11-8Mg ton 138.00
16-2-16-3g ton 152.50
15-2-12-2.4m ton 136.10
12-2-12-2.4M ton 130.15
8-8-8 w/minors** ton 128.60
8-4-8 w/minors** ton 125.50
8-2-8 w/minors** ton 119.50
6-6-6 w/minors** ton 114.00
Liquid Mix (Bulk)
8-2-8 ton 89.00
8-4-8 ton 104.00
9-3-9 ton 101.00
9-4-9 ton 111.00
10-0-10 ton 90.00
10-2-10 ton 108.00
12-0-6 ton 110.00
12-3-6 ton 125.00

*Slow Release Elements are indicated in parenthesis.

**With organic nitrogen, the price averaged 25% higher.


(Continued on Reserve Side)







Table 11-A.--1994 summary of average fertilizer price estimates (cont'd.)

Average
Item Unit Price

Other Fertilizer Materials (Bulk) $
Ammonium Nitrate (21% N Liquid) ton 105.00
Ammonium Nitrate (33.5% N Dry) ton 146.00
Ammonium Sulfate (21% N) ton 124.33
Calcium Nitrate (19% Ca, 15.5% N) ton (bags) 191.67
Dolomite (at mine--49% CaCO3, ton 18.00
36% MgCO3)
Gypsum (20%-28% Ca) ton 17.75
High Cal Lime (36%-39% Ca) ton 15.50
Muriate of Potash (42% K) ton 117.33
Potassium Nitrate (14% N) ton 273.00
Super Phosphate (8% P) ton 127.00
Triple Superphosphate (19% P) ton 137.67
Average Delivery Cost ton 12.17


SOURCE: Ronald P. Muraro, Extension Farm Management Economist, University of
Florida, IFAS, CREC, Lake Alfred, Florida, May 1994.








Table 12-A.-Cost for establishing, planting and maintaining a citrus grove through four years of age, South Florida Flatwoods area

Cost Per Acre

Range Average

$ $
Land Cost: Improved Pasture Land 1,700-2,500 2,050
Raw Land and Semi-improved Pasture 1,150-1,800 1,450
Land Preparation: Pasture and Light Palmettos 125- 275 195
(Clearing) Raw Land (heavy pines, palmettos) 350- 600 465
Leveling: With Laser 200- 350 275
Without Laser 100- 250 160
Bedding: 2-rows (short rows 1,350+ feet) 100- 195 130
Soil Amendments: Dolomite 1 ton 35
Super Phosphate, 400 lbs. 30
Canals, Ditches and Dikes 150- 260 195
Reservoirs and Roads 130- 180 155
Throw-out Pumps for Water Movement 45- 60 55
Culverts 65- 135 85
Middle Drop Drainage Pipes 45- 95 105
Drainage Tile 140- 160 150
Cover Crop 9- 16 12
Irrigation System: Microsprinkler -- with Well2 850-1,500 1,000
without Well 525-1,200 700
Drip with Well2 775-1,050 875
without Well 400- 825 560
Water Permits, Environmental Studies, and Engineering: Cost 40- 90 70
Time in Months 5- 12 8
Percent Land Utilization: Planted to Citrus 55%- 85% 71%
Ditches and Canals 5%- 10% 8%
Water Retention 10%- 30% 15%
Roads and Service Areas 3%- 15% 6%

South Florida

Year

1 2 3 4

Solidset Planted Trees' --- Cost Per Tree ---------------

Microsprinkler Irrigation and Ditch Maintenance $0.40 $0.50 $0.65 $0.85
Fertilize Tree 0.25 0.40 055 0.56
Supplemental Fertilization thru Irrigation 0.15 0.20 0.25 0.29
Spray 030 0.40 0.47 0.50
Insulated Tree Wrap (annual maintenance) 0.25 0.25 0.25 0.00
Sprouting (labor) 0.20 0.20 0.00 0.00
Cultivation/Mowing 0.44 0.44 0.44 0.44
Herbicide 0.54 054 054 0.54
Ridomil/Aliette 0.35 0.35 0.00 0.00
Miscellaneous 0.43 0.49 0.42 0.48
Total Cost Per Year $3.31 $3.77 $3.62 $3.66

Reset Trees (annual additional grove care costs) $2.13 $2.47 $1.84 --

Cost of Planting Trees4 Solidset = $5.00 Reset = $6.30
'Land cost will vary from one county to another as well as from one parcel to another.

'Irrigation costs include distribution system, power unit and well (where indicated.) The higher cost ranges reported also included a cost for
fertigation equipment.

'The per tree costs shown are applicable for tree densities of 145 to 165 trees per acre. The per tree costs should be decreased for higher density
plantings and increased for lower density plantings; e.g., at 200 trees per acre decrease costs by 15%; at 115 trees per acre increase costs by 15%.

*Tree cost (bare root) = $325; stake, plant, and water tree = $1.25 (solidset) and $2.55 (resets); and uninsulated tree wrap = $0.50.


Source: Ronald P. Muraro, Farm Management Economist, CREC, Lake Alfred, FL, November 1989.









Table 13-A.--Historic prices' for selected citrus varieties

Variety

Earlyb and Late season Seedless grapefruit
mid'-season oranges' Temple
Crop year oranges oranges Tangerines Tangelos (white) (colored)


1961-62
1962-63
1963-64
1964-65
1965-66
1966-67
1967-68
1968-69
1969-70
1970-71
1971-72
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91


1991-92
1992-93f


$1.93
2.17
4.43
2.57
1.44
0.81
1.86
1.56
1.15
1.10
1.98
1.43
1.38
1.46
1.69
1.89
3.90
4.44
3.59
3.67
4.27
4.88
5.09
7.30
3.92
4.56
6.72
6.63
6.01
5.38


5.44
2.29


$1.81
350
4.45
2.28
1.79
1.08
2.28
1.83
1.13
1.91
2.11
1.71
1.59
1.82
1.88
2.63
4.40
4.95
3.89
4.63
4.29
5.41
6.72
6.88
3.97
6.02
8.73
8.41
6.53
6.58


6.65
3.26


$2.17
3.09
4.45
2.77
1.80
0.88
2.79
2.22
1.47
1.91
1.95
1.95
1.64
1.68
1.79
2.16
3.92
4.89
2.89
4.21
4.01
3.99
5.34
5.59
3.01
3.60
5.69
5.46
5.64
6.31


6.51
2.00


$2.04
3.02
3.18
2.68
2.14
1.06
4.29
2.55
2.23
1.88
2.97
2.37
2.82
3.05
3.02
3.29
4.79
4.99
4.25
5.45
6.23
7.57
5.93
15.91
12.69
10.92
12.99
12.64
15.28
17.10


18.00
13.61


$3.36
4.66
4.83
4.00
2.85
1.64
3.22
2.47
1.13
1.04
1.69
1.39
1.25
1.45
1.42
1.42
3.29
3.90
2.87
3.92
3.58
4.37
4.28
7.08
4.06
3.72
558
6.31
5.10
6.11


7.16
2.85


$0.68
1.29
2.24
1.51
1.39
0.73
2.05
0.98
1.72
1.89
2.27
2.06
1.58
1.55
1.29
1.49
1.47
2.21
3.12
3.46
1.92
1.51
2.08
3.02
3.56
4.45
5.35
4.33
5.21
4.59


6.46
2.06


$0.86
1.81
2.54
1.82
1.64
0.94
2.48
1.15
1.92
2.15
2.69
2.53
2.12
2.59
2.23
2.04
2.09
3.13
3.80
4.22
2.80
3.20
4.05
4.84
4.98
5.80
5.93
4.71
6.30
6.85


6.87
3.12


"On-tree average price per box (1-3/5 bushel box equivalent) for all methods of sale minus pick and haul
charges.


bNavel and Hamlin


dValencia


'Preliminary


Tarson Brown and Pineapple


"Marsh (white) or pink


Source: Florida Agricultural Statistics Service.












Table 14-A.--Debt which can be supported per $1,000.00 annual payment capacity


Loan Interest rate paid on the loan
term
(years) 8.0% 85% 9.0% 9.5% 10.0% 105% 11.0% 115% 12.0% 125% 13.0% 135% 14.0% 145% 15.0%

1 926 922 917 913 909 905 901 897 893 889 885 881 877 873 870
2 1,783 1,771 1,759 1,747 1,754 1,724 1,713 1,701 1,690 1,679 1,668 1,657 1,647 1,636 1,626
3 2,577 2,554 2,531 2,509 2,487 2,465 2,444 2,423 2,402 2,381 2,361 2,341 2,322 2,302 2,283
4 3,312 3,276 3,240 3,204 3,170 3,136 3,102 3,070 3,037 3,006 2,974 2,944 2,914 2,884 2,855
5 3,993 3,941 3,890 3,840 3,791 3,743 3,696 3,650 3,605 3,561 3,517 3,475 3,433 3,392 3,352
6 4,623 4,554 4,486 4,420 4,355 4,292 4,230 4,170 4,111 4,054 3,998 3,942 3,889 3,836 3,784
7 5,206 5,119 5,033 4,950 4,868 4,789 4,712 4,640 4,564 4,492 4,423 4,355 4,288 4,224 4,160
8 5,747 5,639 5,535 5,433 5,335 5,239 5,146 5,056 4,968 4,882 4,799 4,718 4,639 4,562 4,487
9 6,247 6,119 5,995 5,875 5,759 5,646 5,537 5,431 5,328 5,228 5,132 5,038 4,946 4,858 4,772
10 6,710 6,561 6,418 6,279 6,145 6,015 5,889 5,768 5,650 5,536 5,426 5,319 5,216 5,116 5,019
11 7,139 6,969 6,805 6,647 6,495 6,348 6,207 6,070 5,938 5,810 5,687 5,568 5,453 5,341 5,234
12 7,536 7,345 7,161 6,984 6,814 6,650 6,492 6,341 6,194 6,054 5,918 5,787 5,660 5,538 5,421
13 7,904 7,691 7,487 7,291 7,103 6,923 6,750 6,583 6,424 6,270 6,122 5,979 5,842 5,710 5,583
14 8,244 8,010 7,786 7,572 7,367 7,170 6,982 6,801 6,628 6,462 6,302 6,149 6,002 5,861 5,724
15 8,559 8,304 8,061 7,828 7,606 7,394 7,191 6.997 6,811 6,633 6,462 6,299 6,142 5,992 5,847
16 8,851 8,576 8,313 8,062 7,824 7,596 7,379 7,172 6,974 6,785 6,604 6,431 6,265 6,106 5,954
17 9,122 8,825 8,543 8,276 8,022 7,779 7,549 7,329 7,119 6,920 6,729 6,547 6,373 6,207 6,048
18 9,372 9,056 8,756 8,471 8,201 7,945 7,702 7,470 7,250 7,040 6,840 6,649 6,467 6,294 6,128

19 9,603 9,268 8,950 8,650 8,365 8,095 7,839 7,596 7,366 7,146 6,938 6,739 6,551 6,370 6,198
20 9,818 9,463 9,129 8,812 8,514 8,231 7,963 7.710' 7,469 7,241 7,025 6,819 6,623 6,437 6,259
25 10,675 10,234 9,823 9,438 9,077 8,739 8,422 8,123 7,843 7,579 7,330 7,095 6,873 6,663 6,464
30 11,258 10,747 10,274 9,835 9,427 9,047 8,868 8,364 8,055 7,766 7,496 7,242 7,003 6,778 6,566
35 11,655 11,088 10,567 10,087 9,644 9,234 8,855 8,503 8,175 7,870 7,586 7,320 7,070 6,836 6,617
40 11,925 11,315 10,757 10,247 9,779 9,348 8,951 8,587 8,244 7,928 7,634 7,361 7,105 6,866 6,642


'Example. Assumes a $10,000 after tax income at 115% interest rate and a 15-year term mortgage, the total debt which can be supported is $69,970
($6,997 x 10). At 115% interest rate and a 20-year term mortgage, the total debt which can be supported is $77,100 ($7,710 x 10).