Economic Profitability Analysis Research Articles

Framework for scaling-up extraction processes in nutraceutical beverages: A simulation, techno-economic, and environmental analysis approach

The nutraceutical beverages market has increased in recent years, motivated by the increasing trend of consumers choosing food and beverages beneficial to health, mostly after the COVID-19 pandemic. Several researchers have proposed different formulations, where the combination of plants has been tested at the laboratory and pilot scales to maximize the desirable features of the beverages, including antioxidant capacity, anticarcinogens, and anti-inflammatory properties. Developing these products requires scaling-up from these scales to the industry one and, hence, identifying the criteria and/or parameters affecting process yield due to the transport phenomena associated with the scale increment. This work proposes a framework for scaling up solid-liquid extraction in a nutraceutical beverage process using available pilot plant data, combining brute-force and empirical scaling approaches. This framework provides an alternative for industries that have acquired equipment without considering the principles of similarity between the larger scale and the laboratory stage. Operating conditions are tuned to reach the product quality at the pilot level and the maximum beverage's antioxidant capacity. A techno-economic analysis of the production process and an environmental evaluation were performed, providing the basis for an effective scaling-up to the industry level. The scaling-up proved to be feasible, as the net present value of the process is $2018,000 with a payback time of 4.83 years; the major source of solid waste is the raw materials with a carbon footprint less than 0.205 MT eCO2 due this process operates with temperatures lower than 100 °C. The circular economy indicators in this project were circular material usage rate and Waste Stream Recycling Rate. The Circular Material Usage Rate ranged from 16.7 % to 66.7 % depending on the composition of the cocoa husk in the raw material, and the Waste Stream Recycling Rate (%) ranged from 4.4 % to 5 % destined for composting development. The framework is designed to be applicable to other food production processes that encounter equipment constraints. It facilitates the evaluation of process yield and enables the simulation and analysis of economic profitability and environmental impact using circular economy indicators at an industrial/commercial scale.

Estimated economic impact of fire blight on long-term orchard economic performance with susceptible and resistant rootstocks

We estimated the economic impact of theoretical fire blight induced tree loss using data from two long-term field trials in NY State. An economic analysis of profitability using Net Present Value (NPV) was conducted with three cultivars, eleven rootstocks and four planting systems. The impact of fire blight was modeled in terms of both the severity of the disease and the year of infection. We considered a range of scenarios with different infection rates (10 %, 50 %, 80 % and 100 %) of all the trees planted and different timings when the infection took place including the 1st year (prior to production), 5th year, 10th year and the 15th year during the life cycle of an orchard. The analysis showed that the smallest impact of fire blight induced losses on lifetime NPV occurred when the fire blight infection and tree death occurred in year 1 and was greatest when infection and tree death occurred in year 10. If the infection occurred in year 15 then the losses in NPV were less. As expected, the analysis showed that a low percentage of tree loss due to fire blight at any given year of the orchard life resulted in a low impact on lifetime NPV while greater levels of infection and tree loss were associated with higher losses in NPV. The use of fire blight resistant rootstocks dramatically reduced the negative impact of fire blight induced tree losses on NPV. With susceptible rootstocks (M.9 and M.26), the reduction in NPV with high levels of tree infection was as high as 70 % which would render the planting unprofitable, while with resistant rootstocks the losses in NPV were lower (<30 %) and the orchard would still be profitable. High-density orchard systems like the Tall Spindle system had less sensitivity to fire blight induced losses than lower density systems. Cultivar also had an important effect on the level of fire blight induced losses of NPV. With a high priced cultivar like ‘Honeycrisp’ the percentage loss in NPV was less than with the lower priced cultivars like ‘Fuji’ and ‘Gala’.

Economic Analysis of Profitability of Using Energy Storage with Photovoltaic Installation in Conditions of Northeast Poland

Economic Analysis of Profitability of Using Energy Storage with Photovoltaic Installation in Conditions of Northeast Poland

Effects of cultivar, planting density and rootstock on long-term economic performance of apple orchards in the Northeastern U.S.

An economic analysis of profitability using Net Present Value (NPV) was conducted using data from two long-term training system × rootstock field trials conducted in New York State from 2006 to 2016 (Dressel Farm in southeastern New York State and VandeWalle Farm in Western, New York State). We used trial data for the first 11 years and estimated values for years 12–20 using average data from the last 4 years of field data. The field trials compared four training systems with different planting densities (Slender Pyramid, 840 trees ha−1; Vertical Axis, 1282 trees ha−1; Slender Axis, 2244 trees ha−1; and Tall Spindle, 3262 trees ha−1) each evaluated with several rootstocks in an incomplete factorial treatment list and with two cultivars at each location. By the end of the trial (11 years) all combinations of planting density, rootstock and cultivar were profitable (NPV positive) at the VandeWalle site but at the Dressel site seven combinations of rootstock and planting density with ‘Fuji’ and two combinations with ‘Gala’ were not profitable. Projected profitability over 20 years using estimated yields and fruit quality for years 12–20 showed that all combinations would be profitable by year 20. Estimated 20-year NPV was greatest with the Tall Spindle system with the highest planting density compared to the other lower density systems. Economic performance was mostly driven by planting density, regardless of the rootstock selection. Among cultivars, ‘Honeycrisp’ had significantly higher profitability largely due to high fruit price). ‘Gala’ had intermediate profitability due to high yields and medium fruit price while ‘Fuji’ which had low fruit price had significantly lower profitability than ‘Gala’. Among rootstocks, there was a significant interaction with training system and cultivar, so the same rootstock was not the most profitable with every cultivar and system. With ‘Fuji’ the most profitable combination was on G.16 rootstock planted at the highest density, however, it was not significantly better than with G.11 or M.9. With ‘Gala’ at Dressel farm the most profitable combination was on G.11 in the Tall Spindle system (planted at the highest density) but it was not significantly better than with G.16, G.41, M.9 or B.9. With ‘Gala’ at VandeWalle farm the most profitable combination was on G.41 planted at the highest density but it was not significantly better than on G.11, G.16, M.9 or B.9. With ‘Honeycrisp’ the most profitable combination was on M.9 planted at the highest density but it was not significantly better than G.11, G.16, G.41 or B.9. A sensitivity analysis showed that among economic parameters affecting the long-term profitability of an orchard, fruit price and yield were vastly more important than other factors. Of intermediate importance were the discount rate and labor costs while of much lesser importance were tree costs and land costs.

Economic Analysis of Profitability and Broiler Production in Punjab

The present study was conducted with primary data collected from 100 broiler respondents applying a proportion probability sampling technique distributed across all the regions of Punjab. The data farmers were selected randomly from different districts. It was found that 62 per cent of layer farmers had an education above matric. The variable and fixed costs accounted for 96.21 and 3.79 per cent, respectively, of the total costs. The broiler feed was found to be the most essential item of variable cost to the extent of `64.20 in absolute terms and accounted for 61.80 per cent of the maintenance cost of broiler production. The gross returns from poultry farming were `108.89 per bird. The output-input ratio on layer farms was 1.05, which revealed that poultry is a profitable enterprise. Based on output-input ratios, large poultry farms were more efficient than medium and small. While comparing the mortality rate across categories, the large broiler farmers were found efficient due to better management and sufficient infrastructure. Overall, it may be inferred that poultry production is a profitable venture and broiler production a preferred auxiliary enterprise among the Punjab farmers.

Techno-economic analysis of hydropower based green ammonia plant for urea production in Nepal

This study presents a detailed design, economic, sensitivity and uncertainty analysis for establishing a hydropower based green ammonia plant for use in urea manufacturing in the context of Nepal. The electrolyzer plant for producing hydrogen was simulated with the help of DWSIM while the air separation and ammonia synthesis units were simulated with the help of Aspen Plus for producing 1245 ton/day of ammonia to meet the annual urea demand of Nepal. The capitalized cost of the electrolyzer, air separation and the ammonia synthesis unit of this size were calculated to be 26 million, 7 million and 9 million USD/year respectively. The levelized cost of hydrogen (H2) and ammonia (NH3) were found to be 3602 and 826 USD/ton respectively. Economic profitability analysis showed profitability of the plant with ROI and IRR of 38% and 26% respectively with a payback period of three years after operation. The sensitivity analysis showed strong sensitivity on the utility (electricity) cost for both the electrolyzer and ammonia synthesis unit which presents a strong opportunity for Nepal. The levelized cost for H2 and NH3 varied between 2845 USD/ton and 4361 USD/ton and 634 USD/ton and 1018 USD/ton respectively for ±30% variation in the utility (electricity) cost. Uncertainty analysis using Monte Carlo method showed the possible minimum levelized cost of H2 and NH3 to be 2340 USD/ton and 418 USD/ton respectively. This study illustrates the potential of hydropower based ammonia synthesis for urea manufacturing and provides an important baseline value for policymakers to make investment decisions and to formulate policies for this pathway of production.

Alternative Furrow Irrigation Effect on Onion (Allium cepa L.) Yield and Water Use Efficiency: Evidence from Ethiopia

ABSTRACT Agricultural water demand is increasing with inefficient delivery mechanisms in Ethiopia. This experiment was conducted to investigate the effect of alternative furrow irrigation against other irrigation systems on onion crop (Allium cepa L.) yield and water use efficiency in Basketo special district. The experiment comprised of four levels of treatments (alternative furrow irrigation, fixed furrow irrigation, farmers practice) and 50% of alternative furrow irrigation. The analysis of variance for the combined means showed that alternative furrow gave the highest mean total yield (25.32 ton ha−1) and marketable yield (17.35 ton ha−1) without significantly varying farmer practices and fixed, while 50% alternative furrow gave the minimum total yield (21.23 ton ha−1) and marketable yield (10.35 ton ha−1). Alternative and 50% alternative showed 8% of yield and 40% of marketable yield difference. Alternative furrow irrigation also gave higher water use efficiency than others and 50% of alternative furrow irrigation saved higher water (60%) and other saved less. Economic profitability analysis showed that alternative furrow irrigation had given the highest gross field Benet and benefit cost ratio and 50% of alternative furrow irrigation gave the least of both parameters. Alternative furrow irrigation can be appropriate for better onion yielding and water saving in areas where there is water scarcity.

Technology use and profitability analysis of the production system of tejocote (Crataegus spp.) in Sierra Nevada, Puebla

Objective: The objective of this research was to analyze the use of agricultural technology and the profitability of the tejocote (Crataegus spp.) production system and its explanatory factors, in order to identify actions to increase the income of fruit growers. Design/methodology/approach: Two patterns were used (producers who carry out good phytosanitary practices and producers who export). A stratified sample of 90 fruit growers was obtained, with 95% reliability and 10% accuracy. Subsequently, a survey was carried out and the profitability of tejocote production was calculated with the data. In addition, the explanatory factors of profitability were identified using a multiple regression model. Results: Profitability, measured with the Benefit-Cost indicator, ranged from 0.13 to 2.38, and an average of 0.84. In the scenario of not accounting for family labor or depreciation of infrastructure, a Benefit-Cost Ratio from 0.35 to 6.37 is achieved, with an average of 1.90. The use of technology, measured by the technological index (TI) in the cultivation of tejocote was significant to improve profitability. The average profitability of the high TI stratum is different from the average profitability of the medium and low TI strata. In addition, the explanatory factors of profitability that were significant (p≤0.05) were technological index, phytosanitary control, training, schooling and size of the plantation. Study limitations: Most producers do not keep a record of production activities and costs. Likewise, in the analysis of economic profitability it is difficult to assess indirect benefits, intangible benefits and externalities. Findings/Conclusions: It was found that the tejocote activity is profitable for producers who use more technology and have a greater number of trees in production. The variables that most impact profitability were use of technology, phytosanitary control, size of the plantation, and training.

Pearl Millet (Pennisetum glaucum) Seedlings Transplanting as Climate Adaptation Option for Smallholder Farmers in Niger

Pearl millet is the most widely grown cereal crop in the arid and semi-arid regions of Africa, and in Niger in particular. To determine an optimized management strategy for smallholder farmers in southern Niger to cope with crop production failure and improve cropping performance in the context of climate change and variability, multi-site trials were conducted to evaluate the impacts of transplanting on pearl millet growth and productivity. Eight treatments viz. T1-0NPK (100% transplanting without NPK), T1-NPK (100% transplanting + NPK), T2-0NPK (100% transplanting of empty hills without NPK), T2-NPK (100% transplanting of empty hills + NPK), T3-0NPK (50% transplanting of empty hills without NPK), T3-NPK (50% transplanting of empty hills + NPK), T4-0NPK (farmer practice without NPK), and T4-NPK (farmer practice + NPK) were included in the experiment. Compared to farmer practice, transplanting significantly reduced time to tillering, flowering, and maturity stages by 15%, 27%, and 11%, respectively. The results also revealed that T1-NPK significantly increased panicle weight, total biomass, grain yield, and plant height by 40%, 38%, 27%, and 23%, respectively. Farmers’ evaluations of the experiments supported these findings, indicating three substantial advantages of transplanting, including higher yield (37.50% of responses), larger, more vigorous and more panicles (34.17% of responses), and good tillering (28.33% of responses). An economic profitability analysis of the system revealed that biomass gain (XOF 359,387/ha) and grain gain (XOF 324,388/ha) increased by 34% and 22%, respectively, with T1-NPK. Therefore, it can be inferred that transplanting is a promising strategy for adapting millet cultivation to climate change and variability in southern Niger.

До питання уніфікації шифрування стану водних басейнів при космічному зондуванні

До питання уніфікації шифрування стану водних басейнів при космічному зондуванні

Technological and socio-economic analysis of the local production system of the pink Zaragoza bean (Phaseolus vulgaris L.) in the Caribbean of Colombia

The objective of this study was to characterize the Zaragoza pink bean production system in the Colombian Caribbean from the technical and economic point of view. A survey was randomly applied to 32 farmers in producing areas. The data were analyzed using descriptive statistics, measurements of central tendency and contingency tables. The economic return calculations were made using a production cost pattern and economic profitability analysis techniques. The results showed that the average experience in cultivation is 12 years; the average age of the farmers is 48 years; the predominant type of tenure is property in 63% of the sample; and the mode of the area devoted to this crop is 0.5 ha. The use of family labor predominates in 65% of cases. 90% of the production is destined for the market, 8% is destined for self-consumption, and 2% is for seeds. Production costs correspond to 1,437 USD/ha, the average production is 1,700 kg ha-1, and the average sale price was 0.886 USD/kg, which generates a cost benefit ratio of 1.43% in three months of the productive cycle, from sowing to postharvest. This crop is profitable and stable inasmuch as its yields recover costs and generate profits for producers.

Entorno tecnológico y socioeconómico de la habichuela larga en el Caribe Húmedo de Colombia

La habichuela larga se cultiva en el sistema de producción de economía campesina. El objetivo del trabajo fue obtener información básica sobre la producción y los retornos económicos de la habichuela larga en el Caribe Húmedo de Colombia en el año 2018. No se evidencian trabajos anteriores en materia de caracterización tecnológica y socioeconómica. La información se obtuvo de una encuesta estructurada aplicada mediante el método de muestreo aleatorio simple a 16 productores de habichuela larga. Los retornos económicos se calcularon empleando patrones de costos y técnicas de análisis económico de rentabilidad. Los resultados demuestran que los productores tienen experiencia en cultivar la habichuela larga de tres a cuarenta años, bajo un sistema de agricultura familiar y de subsistencia; la superficie dedicada al cultivo varía de 0,2 a 0,5 ha. Predomina el uso de mano de obra familiar en un 75 %, el 100 % de los agricultores usa semilla no certificada, un 90 % realiza control manual de malezas y el 70 % hace control químico de insectos. Un 86 % de la producción tiene como destino el mercado local, y un 14 %, el consumo de las familias. Los costos de producción corresponden a $3.476.914,2 por hectárea, la producción media es de 4.950 kg ha-1, el precio de venta promedio es de $765 por kilogramo, lo cual genera una relación beneficio costo de 1,09 en cuatro meses del ciclo productivo y una rentabilidad de 8,9 %. Dado que las inversiones son bajas, se considera una producción eficiente, que garantiza la sostenibilidad en el tiempo.

Comparative Analysis of Economic Profitability of Improved Fish Breeding Systems in the Valley of Ouémé, Benin

Journal of Anthropology and Archaeology is a peer-reviewed international journal, which publishes original papers promoting theoretical, methodological and empirical developments in the discipline of socio-cultural anthropology.

Approaches to economic analysis of profitability of forestry enterprises

Обґрунтовано напрямки адаптації чинних аналітичних процедур щодо оцінки рентабельності до специфіки діяльності лісогосподарських підприємств, що є складовою оцінки фінансового потенціалу підприємств досліджуваної галузі. Зокрема визначено такі аналітичні процедури, що надають можливість оцінити результативність діяльності підприємств лісового господарства та визначити рівень його фінансового потенціалу: рентабельність капіталу (активів) за чистим прибутком, рентабельність власного капіталу, рентабельність виробничих фондів, рентабельність реалізованої продукції за прибутком від операційної діяльності, рентабельність реалізованої продукції за чистим прибутком, коефіцієнт реінвестування, коефіцієнт стійкості економічного зростання, період окупності капіталу, період окупності власного капіталу. На основі зазначених показників обґрунтовано сучасний стан рентабельності лісогосподарських підприємств та визначено їхні критичні точки.

Technical Feasibility and Comprehensive Sustainability Assessment of Sweet Sorghum for Bioethanol Production in China

Under dual pressures of energy and environmental security, sweet sorghum is becoming one of the most promising feedstocks for biofuel production. In the present study, the technical feasibility of sweet sorghum production was assessed in eight agricultural regions in China using the Sweet Sorghum Production Technique Maturity Model. Three top typical agricultural zones were then selected for further sustainability assessment of sweet sorghum production: Northeast China (NEC), Huang-Huai-Hai Basin (HHHB) and Ganxin Region (GX). Assessment results demonstrated that NEC exhibited the best sustainable production of sweet sorghum, with a degree of technical maturity value of 0.8066, followed by HHHB and GX, with corresponding values of 0.7531 and 0.6594, respectively. Prospective economic profitability analysis indicated that bioethanol production from sweet sorghum was not feasible using current technologies in China. More efforts are needed to dramatically improve feedstock mechanization logistics while developing new bioethanol productive technology to reduce the total cost. This study provides insight and information to guide further technological development toward profitable industrialization and large-scale sweet sorghum bioethanol production.

Study of Oyster Mushroom cultivation (Pleurotus flabellatus &amp; Pleurotus sajor-caju) on different substrates and economics

Pleurotus flabellatus and Pleurotus sajor-caju were cultivated on different plant substrates as the former species fruits well at 18–28°C and the later species at 10–20°C. Plant wastes or substrate viz. Paddy straw, Wheat straw, Barley straw, Sugarcane trash, Gram kernel and Lentil kernel were tried as alternative substrates for the cultivation of Pleurotus flabellatus, and Pleurotus sajor-caju. Biological efficiency (BE) obtained from each substrate was more than 90%. The highest yield of P. flabellatus (1120g/1000 g dry substrate, BE 112%) and highest yield of P. sajorcaju (1320g/1000g dry substrate, BE 132%). was obtained from paddy straw substrate. Wheat straw, Barely straw, Sugarcne bagasses, Gram kernel and Lentil kernel proved to be good substrate for mushroom cultivation. Economic profitability analysis showed that Pleurotus mushroom cultivation was income-generation entrepreneurship that farmers and unemployed youth can easily adopt. A profit of 156.1 to 264.1% was recorded when 80% of the experimented yield was taken into account. A profit of more than 100% achieved even from the pessimistic yield (60% of the experimental yield).

Desempenho e características de carcaça de codornas de corte alimentadas com farelo de crambe

RESUMO O farelo de crambe é um resíduo que tem sido estudado como fonte proteica alternativa ao farelo de soja. O experimento foi conduzido com o objetivo de avaliar a inclusão do farelo de crambe na alimentação de codornas de corte. Foram utilizadas 390 codornas, distribuídas em delineamento inteiramente casualizado, com cinco tratamentos, seis repetições de 13 aves por parcela. As fases experimentais foram: inicial (8 a 21 dias), crescimento (22 a 35 dias) e total (8 a 35 dias). Os tratamentos consistiram de uma ração testemunha sem o farelo de crambe e os demais pela inclusão da proteína do farelo de crambe em substituição a do farelo de soja nos níveis de 0, 3, 6, 9 e 12%. Avaliou-se o consumo de ração, o ganho de peso e a conversão alimentar. O rendimento de carcaça, cortes e análise de rentabilidade econômica foram avaliados aos 35 dias de idade. Não houve diferença significativa sobre o desempenho das codornas alimentadas com rações em que houve inclusão do farelo de crambe para todas as fases avaliadas. Da mesma forma, em relação às características de carcaça não se observou efeito da inclusão do farelo de crambe nas rações. Portanto, recomenda-se a inclusão do farelo de crambe nas rações de codornas em até 12% do nível de proteína, por não influenciar negativamente no desempenho das aves. Para o estudo da análise de rentabilidade econômica, o tratamento que apresentou o melhor índice foi o de 6% de inclusão da proteína do farelo de crambe.

Improving flexibility characteristics of 200 MW unit

Abstract Calculations were performed of the thermal system of a power plant with installed water pressure tanks. The maximum rise in the block electric power resulting from the shut-off of low-pressure regenerative heaters is determined. At that time, the boiler is fed with hot water from water pressure tanks acting as heat accumulators. Accumulation of hot water in water tanks is also proposed in the periods of the power unit small load. In order to lower the plant electric power in the off-peak night hours, water heated in low-pressure regenerative heaters and feed water tank to the nominal temperature is directed to water pressure tanks. The water accumulated during the night is used to feed the boiler during the period of peak demand for electricity. Drops in the power block electric power were determined for different capacities of the tanks and periods when they are charged. A financial and economic profitability analysis (of costs and benefits) is made of the use of tanks for a 200 MW power unit. Operating in the automatic system of frequency and power control, the tanks may also be used to ensure a sudden increase in the electric power of the unit. The results of the performed calculations and analyses indicate that installation of water pressure tanks is well justified. The investment is profitable. Water pressure tanks may not only be used to reduce the power unit power during the off-peak night hours and raise it in the periods of peak demand, but also to increase the power capacity fast at any time. They may also be used to fill the boiler evaporator with hot water during the power unit start-up from the cold state.

A worldwide assessment of economic feasibility of HCPV power plants: Profitability and competitiveness

Numerous exhaustive analyses of the economic assessment of conventional PV systems are available in the literature. However, there is a lack of these studies concerning High Concentrator Photovoltaic (HCPV) technology. Besides, future owners and potential investors on HCPV plant demand information relating to the economic feasibility of their investment. In this work the profitability and competitiveness of HCPV plants in several countries are analysed. To analyse the profitability the internal rate of return (IRR) criterion has been used, while the competitiveness has been analysed based on estimating the so-called HCPV generation parity. As a result of the economic profitability analysis conducted the group of countries where the investment in HCPV could be interesting has been identified. The results obtained could be also useful for researchers to identify the weaknesses of the HCPV technology and take actions at making it more competitive. From the competitiveness analysis carried out in several Eurozone countries and USA for two possible scenarios 2015 and 2020, the results show that HCPV could be competitive in some locations in 2020. Therefore, government organizations of the studied countries, which participate in the design or the selection of support mechanisms for HCPV, can be guided by the results obtained.

Economic Profitability Analysis of Rainfed Organic Farming in SW Spain

The economic importance of organic production systems is growing year on year. Producers who wish to convert their farms to organic farming face significant transition costs due to changes in management, work organization and lifestyle. The aim of this study was to compare the yield and economic outputs of a conventional and an organic farming system in south-west Spain, a region characterized by a subhumid climate. The organic rotation of wheat–sunflower–peas–faba bean (green manure) was compared with a conventional rotation of wheat–sunflower over four cropping seasons. Economic analysis showed that organic farming was 62% more profitable, assuming current organic premium prices, and 36% more profitable when selling products in conventional markets. However, without the Common Agricultural Policy and regional payments and with conventional prices, the profitability of organics falls below that of conventional production.