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Sustainability 2015, 7(8), 10521-10533; doi:10.3390/su70810521

Evaluation of Economic Efficiency of Apple Orchard Investments

1,†,* , 2,†,* , 2,†
,
3,†
and
1,†
1
Department of Horticulture and Landscape Architecture, University of Agricultural Sciences and Veterinary Medicine Cluj-Napoca, 3-5 Manastur Street, 400372 Cluj-Napoca, Romania
2
Department of Economic Sciences, University of Agricultural Sciences and Veterinary Medicine Cluj-Napoca, 3-5 Manastur Street, 400372 Cluj-Napoca, Romania
3
Department of Economics, Faculty of Economic Sciences, "Aurel Vlaicu" University of Arad, 77 Bdul. Revolutiei, 310130 Arad, Romania
These authors contributed equally to this work.
*
Authors to whom correspondence should be addressed.
Academic Editors: Andrei Jean Vasile, Popescu Catalin and Zaharia Marian
Received: 4 May 2015 / Revised: 28 July 2015 / Accepted: 30 July 2015 / Published: 5 August 2015
View Full-Text   |   Download PDF [703 KB, uploaded 5 August 2015]   |  

Abstract

The tree-growing sector is considered to be an important supplier of food and raw material for industry worldwide. Increasingly competitive decisions regarding international investment in orchards depend on business analysis. This study compares three apple orchards situated in Cluj-Napoca, on the Eastern limits of the Transylvanian Plain, Romania. While the climatic and soil conditions are relatively consistent among the three orchards, the technical and economic results (expressed in hectares) vary due to the use of three different technological systems of apple production: extensive, intensive, and super-intensive. The study compares the life cycle, starting with age of fructification, production level (quantity and quality), costs (investment and production costs—divided into material costs, mechanical costs, human costs, and overhead costs), income, profit (including rate of profit), and investment efficiency: Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP). It was observed that the most economically efficient technological system in terms of investments is the super-intensive one, with a higher production level, a higher share of Extra Class apples, and a younger age of initial fructification. However certain inconveniences of this system—such as a more expensive investment, a higher cost of running the business throughout the year, and a reduced life cycle—cannot be ignored. View Full-Text
Keywords: technological system; Romania; comparative analysis; apple cultivation technology; costs technological system; Romania; comparative analysis; apple cultivation technology; costs
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Badiu, D.; Arion, F.H.; Muresan, I.C.; Lile, R.; Mitre, V. Evaluation of Economic Efficiency of Apple Orchard Investments. Sustainability 2015, 7, 10521-10533.

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