AVALIAÇÃO ECONÔMICA DE RENTABILIDADE NA PRODUÇÃO ORGÂNICA DE MILHO-VERDE NA REGIÃO DA ILHA DE SÃO LUÍS, NO MARANHÃO

Abstract

The sweetcorn cultivation is a traditional agricultural activity in Maranhão State, Brazil. Its cultivation is done mostly by small family farmers, predominantly without an irrigation system, from January to June, the Brazilian rainy season. The soils are poor and rather weathered because it is a region of humid tropical climate. In this context, the use of more sustainable agricultural production systems, such as organic fertilization and reduction of the use of soluble fertilizers, is desirable. Aiming to add value to production, which, due to the edaphoclimatic conditions and the difficulty in investing in technology does not reach high levels, the production of certificated organic products may be an option for producers of that crop. The financial sustainability of any agricultural project is a mandatory requirement for success. Therefore, this study aimed to evaluate the economic viability of organic sweetcorn production, based on a project developed at the rural area of São Luís municipality. Data were collected considering the first crop results of 2017 and then a cost spreadsheet was prepared. The revenue was determined according to the productivity achieved and the price at which the corncobs were commercialized. The economic indicators [net present value (NPV) and internal rate of return (IRR)] were calculated, taking into account the inputs and outputs of Cash Flow. A sensitivity analysis was carried out showing 15% impact on the production costs values and on reduction in revenue. The NPV for this project over a three-year projection was R $ 15,602.95 (Brazilian currency) for an attractiveness rate of 25%. The IRR stayed at 118.15% and the project can be considered financially viable, facing the risk associated with agricultural activities. In the sensitivity analyzes, the components that showed the greatest impact on the indicators were reduction in revenue (due to falling prices or productivity) along with reduction of 22.15% in NPV and fertilizer expenses along with reduction of 12.56% in IRR.