ECONOMIC ANALYSIS OF SOIL-BASED AND SOILLESS FARMING SYSTEMS: A CASE STUDY FROM DA LAT CITY

Đặng Đức Huy, Phạm Thị Thuyền, Đàm Thị Hải Âu, Trần Thanh Giang, Nguyễn Thị Trà My

Abstract


Nowadays, to secure production in the case of restricted natural resources requires innovative farming approaches to achieve a balance between agriculture and environmental protection. This study investigates, via investment metrics and sensitivity analysis, the most popular current farming practices to clarify whether or not these systems can fulfill current and future demands with limited natural resources and at lowest cost. The research analyzes soil-based and soilless (hydroponics and aeroponics) lettuce farming systems to highlight the economic efficiency and limitations of each practice. Outcomes confirm that soilless systems are more efficient in terms of production outputs than soil-based systems. The sensitivity analysis of soil-based systems reveals that the impact of stochastic inputs is in the decreasing magnitude of interest, gross revenue, and total operating cost. The importance of NPV varies under the impact of gross revenue in the systems of hydroponics and aeroponics. This also indicates that alterations in prices or output quantities are much more critical than total operating cost and interest.


Keywords


Aeroponics; Hydroponics; Sensitivity analysis; Soil-based.

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References


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DOI: http://dx.doi.org/10.37569/DalatUniversity.10.4.587(2020)

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