In 2009, Brazil broke its own record for honey exports, generating revenues exceeding US$ 65 million. However, there is a gap, concerning economic aspects, for most apiculturists inserted in that chain. Thus, the investment needed for honey production on a home farm in Cajuru, São Paulo State, Brazil, was estimated with investment and production costs based on the Total Operating Cost (TOC) used by the Instituto de Economia Agrícola, reaching R$ 97,093.00 as the total investment amount. For the economic analysis, considering the orange blossom and wild honey production, the operating cost was R$ 16,400.13, whereas the cost for raw materials amounted to 70% of the Effective Operating Cost (EOC) and 26% of the TOC, at a profit of 46%. Whit respect to the equilibrium point, the apiculturist needs to produce 4,659 kg of honey, or sell it at the minimum price of R$ 1.93/kg, in order to cover production costs. It was possible to find out, based on cash flows, an IRR of 7.24% and that the initial investment returns in 10 years, showing attractive results for this farming segment, considering the reasonable use of production factors as well as a progressive increase in the amount produced.
Apiculture; production costs; profitability