The maple industry will need to double production in ten years to keep up with demand. Vermont has experienced dramatic advances in technology, expansion of business scale and recent market volatility that influences enterprises. Very limited economic and financial data is available to producers and industry professionals. The VT Maple Benchmark began as a pilot project in 2013 to provide cost of production education to managers and promote public information to broader audiences. This new project is growing from 10 initial participants to 30 participants by 2017.
This presentation will focus on the successes and challenges associated with establishing a new cost of production program. An interactive discussion will introduce both decisions that have been made and looming questions that will impact the evolution of this project. Listen as we get into the finer points of financial standards and the feasibility of collecting accurate financial records. Consider the opportunities and challenges of collecting information from a small group of producers. Provide feedback on the different methods of delivering complex financial data ranging from direct consultation to infographic business dashboards. Attendees can expect to learn from the experiences of this new program, contribute new ideas and apply this information to their own programs.