Economic Viability Meets Environmental Resilience: Advancing Agriculture through Synthetic Biology
DOI:
https://doi.org/10.64229/mf52ep36Keywords:
Economic Viability, Environmental Resilience, Agriculture, Synthetic BiologyAbstract
The financial viability of agricultural holdings is a crucial component of sustainable agriculture. Farming properties ought to generate enough revenue to meet all of their expenses. This study included the proposal of an economic profit indicator as well as an entrepreneurial revenue indicator. Economic profit takes into account the expenses of missed chances, or "opportunity costs," as opposed to entrepreneurial gain. For this objective, three measures of the potential costs of the capital, labor, and land production variables were constructed and computed. To determine if a holding is risky or sustainable, a business viability index is developed in order to evaluate the economic profit between various holding groups. This indicator is composed of the commercial income statistic and the differentiation between commercial income and economic profit. It was verified that large holdings with a focus on grazing cattle are among the most economically vulnerable subjects using FADN data from a five-year time period. The share of sustainable ownership in milk production-focused companies was greatest. Small holdings are most in risk from a size perspective, and this was shown to be the case for all production foci. On the other hand, the category of feasible holdings includes bigger and extremely large holdings.
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