Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines

Abstract

This study aimed to explore the financial, socio-economic, and environmental benefits of sustainable onion production using vertical farming and hydroponic systems, and to identify key factors affecting the viability of these business models. Data were collected through a survey of onion farmers and producers in the Philippines, and analyzed using descriptive and inferential statistics. Results showed that sustainable onion production using vertical farming and hydroponic systems has the potential to generate higher income for farmers, increase employment opportunities, improve food security, enhance market competitiveness, and promote environmental sustainability. Key financial factors affecting viability included production costs, market prices, yield, labor costs, energy costs, capital costs, financing costs, taxes and regulatory costs, and maintenance and repair costs. Recommendations for optimizing financial viability include reducing production costs, diversifying income streams, and improving market competitiveness. Overall, this study suggests that sustainable onion production using vertical farming and hydroponic systems is a viable and promising approach to achieving socio-economic and environmental sustainability in the agricultural sector.

Hydroponics: current trends in sustainable crop production

“…Finally, Hydroponics allows for continuous production throughout the year independent of external weather conditions, guaranteeing a steady supply of fresh vegetables [ 27 ]. Hydroponics often provides a better Return On Investment [ROI] than conventional farming methods because of its greater productivity and quicker harvest times [ 28 ]. Research findings indicate that hydroponic lettuce production has the potential to generate significantly higher yields per acre in comparison to soil-based cultivation, with reported increases of up to 20 times.…”