Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 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 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 4436 IREC Farmers' Newsletter No. 197 — Autumn 2017 Sensitivity tables A sensitivity table presents the effect of variations in yield and price on gross margin as a result of seasonal and market conditions on gross margin. Table 1 shows a sensitivity budget that has been calculated using Rice$cenario for gross margin per hectare for a dry broadcast Reiziq crop. The gross margin figure enclosed in the darkest shaded box ($2,069) represents the original gross margin under the base yield, variable costs and price assumptions. All other gross margin figures in the table are based on the same cost of inputs and management operations but show the effect if yield and price varies from the original budgets. When yield increases the gross margin is improved. Increases in rice price also improve the gross margin. Outcomes Users of Rice$cenario have reported a greater understanding of their water costs, resulting in increased confidence to make a decision on growing a crop using allocated water only, selling water or purchasing additional water to maximise business profit. The Rice Extension team has used the tool extensively to promote innovative best rice growing practices using gross margin comparisons and sensitivity Figure 2. An example of a gross margin report prepared Rice$cenario. Rice price ($/t) 300 320 340 360 380 9.3 1,190 1,376 1,562 1,748 1,934 9.8 1,339 1,535 1,731 1,927 2,123 10.3 1,488 1,694 1,900 2,106 2,312 10.8 1,637 1,853 2,069 2,285 2,501 11.3 1,787 2,013 2,239 2,465 2,691 11.8 1,936 2,172 2,408 2,644 2,880 12.3 2,085 2,331 2,577 2,823 3,069 12.8 2,234 2,490 2,746 3,002 3,258 13.3 2,383 2,649 2,915 3,181 3,447 Yield (t/ha) Table 1. A sensitivity table showing gross margin per hectare for dry broadcast Reiziq rice production as affected by variation in yield and rice price.