TABLE 10. Red chile, flood-irrigated, budgeted per acre costs and returns for a 500 acre farm with above average management, Artesia-Lake Arthur area, 2001. Planting dates: April 1 - April 15 Harvesting dates: September 1 - October 30 -------------------------------------------------------------------------------------------------------------------------- ITEM PRICE YIELD TOTAL -------------------------------------------------------------------------------------------------------------------------- GROSS RETURNS RED CHILE $0.70 3200 LBS $2,240.00 _______ TOTAL $2,240.00 -------------------------------------------------------------------------------------------------------------------------- PURCHAS ED PURCHASED INPUTS PRICE QUANTITY INPUT S TOTAL --------- ------ ------ --------------- ------ -- ----- SEED $21.00 8 LBS $168.00 $168.00 NITROGEN (N) $0.42 120 LBS $50.40 $50.40 PHOSPHATE (P205) $0.39 70 LBS $27.30 $27.30 HERBICIDE (CUSTOM) $32.96 1 X/ACRE $32.96 $32.96 INSECTICIDE (CUSTOM) $38.97 3 X/ACRE $38.97 $38.97 CROP INSURANCE 400 DOLLARS $20.00 $20.00 PUMP WATER* 48 AC. IN. _______ _______ SUBTOTAL $337.63 $337.63 POWER ACCOMPLISHMENT PURCHASED FUEL FIXED PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL ---------- ---------- -------------- -------------- ---------- ----- ----- ----- ----- ----- PLOW 145 HP 0.48 HR $3.50 $6.10 $2.09 $5.22 $16.91 DISC (2X) 145 HP 0.34 HR $2.48 $4.32 $1.91 $3.14 $11.85 PLANE 145 HP 0.16 HR $1.17 $2.03 $0.80 $2.81 $6.82 FERTILIZE DEALER APPLIED LIST 145 HP 0.18 HR $1.31 $2.29 $0.98 $2.34 $6.92 PRE-IRRIGATE 0.75 HR $5.03 $4.89 $1.09 $3.50 $14.50 CULTIVATOR 65 HP 0.21 HR $1.53 $1.33 $0.45 $0.33 $3.63 PLANTER 70 HP 0.26 HR $1.90 $1.35 $1.97 $3.87 $9.09 CULTIVATOR (5X) 65 HP 1.05 HR $7.67 $6.64 $2.23 $1.65 $18.17 THIN (CUSTOM) $45.00 $45.00 IRRIGATE (7X) 3.50 HR $23.45 $34.26 $7.60 $24.48 $89.79 HAND HOE (CUSTOM) $20.00 $20.00 _____________ _______ _______ _______ _______ _______ _______ SUBTOTAL 6.93 HR 65.00 $48.04 $63.21 $19.11 $47.34 $242.70 HARVEST OPERATIONS ------- ---------- HAND PICK (CUSTOM) $640.00 $640.00 FIELD HAUL 145 HP 0.90 HR $6.57 $11.43 $4.20 $10.39 $32.60 HAUL (CUSTOM) $96.00 $96.00 _____________ _______ _______ _______ _______ _______ _______ SUBTOTAL 0.90 HR 736.00 $6.57 $11.43 $4.20 $10.39 $768.60 POSTHARVEST OPERATIONS ----------- ---------- SHREDDER 70 HP 0.14 HR $1.02 $0.72 $0.32 $1.95 $4.02 _____________ _______ _______ _______ _______ _______ SUBTOTAL 0.14 HR $1.02 $0.72 $0.32 $1.95 $4.02 OVERHEAD EXPENSES -------- -------- DOWNTIME 0.93 HR $6.79 $6.79 EMPLOYEE BENEFITS $10.01 $10.01 INSURANCE $1.11 $1.11 LAND TAXES $1.56 $1.56 SUPERVISION AND MANAGEMENT $162.91 $162.91 OTHER EXPENSES $45.94 $45.94 _____________ _______ _______ _______ _______ SUBTOTAL 0.93 HR $47.05 $179.71 $1.56 $228.32 ------------- ------- ------- ------- ------- ------- ------- TOTAL OPERATING EXPENSES 8.90 HR $1,185.68 $235.34 $75.36 $23.64 $61.24 $1,581.27 NET OPERATING PROFIT $658.73 INTEREST ON OPERATING CAPITAL ( 190.96 @ 9.00%) $17.19 INTEREST ON EQUIPMENT INVESTMENT $20.01 RETURN TO LAND AND RISK $621.53 ========================================================================================================================== * Pump water costs are shown under irrigation in the preharvest operation section. BUDGET SUMMARY GROSS RETURN $2,240.00 VARIABLE OPERATING EXPENSES $1,284.69 RETURN OVER VARIABLE EXPENSES $955.31 (GROSS MARGIN) FIXED EXPENSES $61.24 NET FARM INCOME $894.08 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $235.34 NET OPERATING PROFIT $658.73 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $37.20 RETURN TO LAND AND RISK $621.53 ======================================================================================================