An Economic Evaluation of Investment in Mucuna solannie Production

An Economic Evaluation of Investment in Mucuna solannie Production



N. Uwaezuoke, Boniface Obah, Stanley I. Onwukwe, Kevin C. Igwilo



Mucuna solannie, a perennial crop, is a Fabaceae found in the South East
of Nigeria and in some African and Asian countries. It exhibits
interesting properties as a food additive, where it serves as
viscosifier. It has, hence, been tested and used to formulate a drilling
mud. The drilling mud formulated from it compares quite fine with
other muds; with excellent rheological properties. It is suitable for
top hole sections. The purpose of Mucuna solannie farming, as a cash
crop, is to maintain adequate supply for continued application in the
drilling industry; hence, it is a business venture. Also, a
comprehensive list of processing equipment has been provided. The study
gives the first pass assessments of the requirements for production and
processing, necessary for sustained supply. A suitable farm location has
been found in South-East Nigeria. Square planting pattern, on 10
hectares area of land, based on one plant per hill, with no filler
crops, has been shown to yield 63.9 metric tonnes per year. An initial
minimum investment of about $820,920 is required for seeds, land rent,
equipment costs and other contingencies; with projected minimum revenue
of $283,500 per year, at 22% DCF ROR, if the venture must remain
profitable. 



10.22161/ijeab/1.3.45



http://ijeab.com/upload_document/issue_files/45%20IJEAB-SEP-2016-17-An%20Economic%20Evaluation%20of%20Investment%20in%20Mucuna%20solannie%20Production.pdf



http://ijeab.com/submit-paper/

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