THE Grain Growers Association's balance sheet has taken a dive with a loss of nearly $8 million last year.
The GGA reported a $7.8 million loss for the year ended September 2008, with a total income of $5.9 million.
The net result reflects an unrealised loss of $9.2 million from GGA's investment portfolio.
The loss follows a negative balance sheet in 2007 when GGA had a loss of $400,000.
In the previous year, GGA made a profit of $1.7 million.
GGA acquired BRI Research for $4.3 million last month.
Chairman John Eastburn said the company's investment portfolio had experienced a significant deterioration in value.
In his chairman's report, Mr Eastburn said the negative result was further compounded by the fact that GrainCorp did not pay any dividends during the financial year.
A further loss for 2009 is forecast in the annual report.
