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Economic analysis of agroforestry systems in eastern Amazonia, Machadinho d'Oeste- RO, Brazil

The objective of this study was to carry out the financial analysis and the risk of investment simulation in agroforestry systems (AFSs) established in 1987 in the Experimental Field of Embrapa Rondônia, located in the County of Machadinho d'Oeste, RO. Financial analysis was made through the evaluation of results from the forestry enterprise evaluation methods, and the risk analysis was carried out through the Monte Carlo simulation technique by @RISK software. Among the arrangements tested, T1 Brazil nut-Banana-Black pepper-Cupuaçu was the agroforestry system (AFS) with the best financial results, comparing to T2 Frreijó wood- banana-black pepper-cupuaçu and T3 Pupunha palm- banana-black pepper-cupuaçu. The management and harvesting costs represented more than 70% of the total cost composition; and the labor cost participation was higher than 50% in the site preparation and long-term maintenance phases of the agroforestry systems. The risk analysis simulation showed that the variables which affected Infinite Horizon Net Present Value (NPV*), according to the ranking of importance (R), were: discount rate, price of cupuaçu fruits (Theobroma grandiflorum), harvesting cost, price of Brazil nut (Bertholletia excelsa) wood, and long-term maintenance costs. Even though the high establishment and the long-term maintenance costs, AFS T1 Castanha-do-brasil-Banana-black pepper-cupuaçu showed a 15% probability that Net Present Value (NPV) value could be concentrated around R$ 35.000 ha-1 year-1.

Financial analysis; cash flow; agroforestry incomes


Sociedade de Investigações Florestais Universidade Federal de Viçosa, CEP: 36570-900 - Viçosa - Minas Gerais - Brazil, Tel: (55 31) 3612-3959 - Viçosa - MG - Brazil
E-mail: rarvore@sif.org.br