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ANALISIS PERBANDINGAN KELAYAKAN INVESTASI USAHA PERTANIAN TANAMAN PANGAN DI INDONESIA: STUDI LITERATUR PADI SAWAH, PADI ORGANIK, DAN SAYURAN Rahmad Akbar; Reza Aulia Akbar; Iwan Setiawan
Agriwana Jurnal Pertanian dan Perkebunan Vol 4 No 1 (2026): Agriwana Jurnal Pertanian dan Kehutanan
Publisher : LPPM STIPER Sriwigama Palembang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64528/agriwana.v4i1.90

Abstract

Investment feasibility is central to farm continuity because production success does not automatically ensure adequate returns on capital. This study compares the financial feasibility of three Indonesian food-crop farming cases: conventional lowland rice, organic rice, and vegetable farming. A descriptive-comparative literature review was conducted using three primary studies, while peer-reviewed publications from 2021-2025 were used to strengthen interpretation. The extracted variables included business scale, initial investment or production cost, analysis horizon, discount rate, and the reported values of Net Present Value (NPV), Benefit-Cost Ratio (BCR), Revenue-Cost Ratio (R/C), Profitability Ratio (PR), Break-Even Point (BEP), Internal Rate of Return (IRR), and Payback Period (PP). All three cases were reported as financially feasible. The lowland-rice case reported an NPV of IDR 8.205 billion, BCR of 39.16, PR of 39.61, and PP of 1.54 months; the organic-rice case reported an R/C of 2.96, production BEP of 2,208 kg, and PP of 3.5 months; and the vegetable case reported an NPV of IDR 27.166 million, IRR of 36.1%, and PP of 2.28 months. However, these figures cannot be ranked directly because the studies used different scales, time horizons, discounting procedures, and cash-flow bases. The main conclusion is that methodological heterogeneity, rather than commodity characteristics alone, explains much of the variation in feasibility values. Future evaluations should apply comparable net-cash-flow definitions, combine discounted and non-discounted criteria, and include sensitivity scenarios for yield, output price, and production cost.