Financial Feasibility Analysis of Black Soldier Fly (Hermetia illucens) Cultivation Business in Bogor, West Java

Abstract

Indonesia produces 38,649,897.78 tons of waste every year. With waste management not being optimal in Indonesia, which is only 62.2%, this results in a buildup of waste. The accumulated rubbish can be a source of disease and pollute the environment. One effort to overcome the problem of waste accumulation is to cultivate Black Soldier Fly (BSF) larvae or also known as maggots. Apart from being able to deal with waste, maggots can also be used as additional animal feed which is high in protein and has economic value. The aim of this research is to determine the financial performance of the Black Soldier Fly (BSF) cultivation business in Bogor. The components used to analyze financial performance are Net Present Value (NPV), Internal Rate of Return (IRR), and Benefit Cost (B/C). The results of the financial performance analysis of the Black Soldier Fly (BSF) cultivation business in Bogor show that the business was declared feasible because it met the criteria applied, namely Net Present Value (NPV) with a value of IDR. 9.037.698,47. Internal Rate of Return (IRR) with a value of 20%. Net Benefit Cost Net (B/C) with a value of 1,76.