Engineering economic analysis of meliponiculture in Malaysia considering current market price

Stingless bees (kelulut) keeping is now a trend in Malaysia. However, since demand for the source of colony in log is increasing, the log price is rapidly increasing. But, there is no data reported on the economic viability of meliponiculture in the current market price. Thus, the objective of this...

Full description

Bibliographic Details
Main Authors:	F., Basrawi, Asnul Hadi, Ahmad, Daing Mohamad Nafiz, Daing Idris, Mohd Rashidi, Maarof, Chand, M. R. R., Ahmad Syazwan, Ramli
Format:	Conference or Workshop Item
Language:	English
Published:	EDP Sciences 2017
Subjects:	TJ Mechanical engineering and machinery
Online Access:	http://umpir.ump.edu.my/id/eprint/21089/ http://umpir.ump.edu.my/id/eprint/21089/ http://umpir.ump.edu.my/id/eprint/21089/1/Engineering%20economic%20analysis%20of%20meliponiculture%20in%20Malaysia%20considering%20current%20market%20price.pdf

id	ump-21089
recordtype	eprints
spelling	ump-210892018-08-29T04:35:45Z http://umpir.ump.edu.my/id/eprint/21089/ Engineering economic analysis of meliponiculture in Malaysia considering current market price F., Basrawi Asnul Hadi, Ahmad Daing Mohamad Nafiz, Daing Idris Mohd Rashidi, Maarof Chand, M. R. R. Ahmad Syazwan, Ramli TJ Mechanical engineering and machinery Stingless bees (kelulut) keeping is now a trend in Malaysia. However, since demand for the source of colony in log is increasing, the log price is rapidly increasing. But, there is no data reported on the economic viability of meliponiculture in the current market price. Thus, the objective of this study is to clarify the economic viability of investment in meliponiculture in the current market price by engineering economic perspective. Investment in meliponiculture was analysed using Equivalent Annual Uniform Cost (EAUC), Internal Rate of Return (IRR) and Breakeven Analysis. A small start-up with 30 units of logs or hives was considered in the analysis. All raw data was acquainted from current Malaysian market price, but only revenue from honey was considered. It was found that EAUC indicated that the annual worth of the log system is 23% better than the hive system. However, IRR calculation indicated that both the log and the hive systems offer margin exceeding 55% which is a very good return in general investment. In addition, it was also found that the log system had breakeven after 8th month, whereas the hive was 13th month. Better economic value could be obtained if revenue from by-products are considered. Thus, it can be concluded that meliponiculture is still very economically viable in Malaysia market trend, and the hive systems could be a better choice if splitting colony, maintenance, safety and aesthetics points of view are considered. EDP Sciences 2017-10 Conference or Workshop Item PeerReviewed pdf en http://umpir.ump.edu.my/id/eprint/21089/1/Engineering%20economic%20analysis%20of%20meliponiculture%20in%20Malaysia%20considering%20current%20market%20price.pdf F., Basrawi and Asnul Hadi, Ahmad and Daing Mohamad Nafiz, Daing Idris and Mohd Rashidi, Maarof and Chand, M. R. R. and Ahmad Syazwan, Ramli (2017) Engineering economic analysis of meliponiculture in Malaysia considering current market price. In: UTP-UMP Symposium on Energy Systems, SES 2017, 26-27 September 2017 , Perak, Malaysia. pp. 1-7., 131. ISSN 2261236X https://www.matec-conferences.org/articles/matecconf/pdf/2017/45/matecconf_ses2017_04005.pdf
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Pahang
building	UMP Institutional Repository
collection	Online Access
language	English
topic	TJ Mechanical engineering and machinery
spellingShingle	TJ Mechanical engineering and machinery F., Basrawi Asnul Hadi, Ahmad Daing Mohamad Nafiz, Daing Idris Mohd Rashidi, Maarof Chand, M. R. R. Ahmad Syazwan, Ramli Engineering economic analysis of meliponiculture in Malaysia considering current market price
description	Stingless bees (kelulut) keeping is now a trend in Malaysia. However, since demand for the source of colony in log is increasing, the log price is rapidly increasing. But, there is no data reported on the economic viability of meliponiculture in the current market price. Thus, the objective of this study is to clarify the economic viability of investment in meliponiculture in the current market price by engineering economic perspective. Investment in meliponiculture was analysed using Equivalent Annual Uniform Cost (EAUC), Internal Rate of Return (IRR) and Breakeven Analysis. A small start-up with 30 units of logs or hives was considered in the analysis. All raw data was acquainted from current Malaysian market price, but only revenue from honey was considered. It was found that EAUC indicated that the annual worth of the log system is 23% better than the hive system. However, IRR calculation indicated that both the log and the hive systems offer margin exceeding 55% which is a very good return in general investment. In addition, it was also found that the log system had breakeven after 8th month, whereas the hive was 13th month. Better economic value could be obtained if revenue from by-products are considered. Thus, it can be concluded that meliponiculture is still very economically viable in Malaysia market trend, and the hive systems could be a better choice if splitting colony, maintenance, safety and aesthetics points of view are considered.
format	Conference or Workshop Item
author	F., Basrawi Asnul Hadi, Ahmad Daing Mohamad Nafiz, Daing Idris Mohd Rashidi, Maarof Chand, M. R. R. Ahmad Syazwan, Ramli
author_facet	F., Basrawi Asnul Hadi, Ahmad Daing Mohamad Nafiz, Daing Idris Mohd Rashidi, Maarof Chand, M. R. R. Ahmad Syazwan, Ramli
author_sort	F., Basrawi
title	Engineering economic analysis of meliponiculture in Malaysia considering current market price
title_short	Engineering economic analysis of meliponiculture in Malaysia considering current market price
title_full	Engineering economic analysis of meliponiculture in Malaysia considering current market price
title_fullStr	Engineering economic analysis of meliponiculture in Malaysia considering current market price
title_full_unstemmed	Engineering economic analysis of meliponiculture in Malaysia considering current market price
title_sort	engineering economic analysis of meliponiculture in malaysia considering current market price
publisher	EDP Sciences
publishDate	2017
url	http://umpir.ump.edu.my/id/eprint/21089/ http://umpir.ump.edu.my/id/eprint/21089/ http://umpir.ump.edu.my/id/eprint/21089/1/Engineering%20economic%20analysis%20of%20meliponiculture%20in%20Malaysia%20considering%20current%20market%20price.pdf
first_indexed	2023-09-18T22:30:48Z
last_indexed	2023-09-18T22:30:48Z
_version_	1777416272612425728

Engineering economic analysis of meliponiculture in Malaysia considering current market price

Similar Items