Economic Viability of Raffia in Black Pepper Crops: An Analysis Based on IRR, NPV, and Payback

Black pepper (Piper nigrum) stands out as one of the most valued spices in the global market, with Brazil occupying a strategic position in production, especially in Espírito Santo, being the largest producing state in the country. This study analyzes the economic feasibility of implementing raffia in black pepper crops, focusing on reducing post-harvest losses and optimizing operational costs and environmental sustainability. Data were collected in black pepper crops, specifically at Fazenda Duas Barras, in the city of Pinheiros, ES, Brazil. Two cultivation systems were designed and compared: The traditional black pepper cultivation system without the implementation of raffia blanket, with an average production of 4000 kg ha−1 and harvest cost of USD 7433.63 ha−1; and the black pepper cultivation system with the implementation of raffia blanket, production increased to 4500 kg ha−1, with a 60% reduction in harvest cost. Using established financial indicators (NPV, IRR, and Payback), it is demonstrated that the investment presents a return in 2.4 years, with an Internal Rate of Return (IRR) of 51% and a Net Present Value (NPV) of USD 59,150.44 ha−1 year−1. The sensitivity analysis shows economic resilience even in adverse scenarios, consolidating the technology as a viable alternative for small and medium-sized producers.