# Sunflower Production in Brazil: Sensitivity of the Financial Viability in the Cultivation in Farms through Monte Carlo Simulation

E. G. SUCHLA^{1}, A. CATAPAN^{1}, B. L. S. BONFIM^{2}, M. F. CATAPAN^{3} and O. A. SIMХES^{1}

^{1} *Technological Federal University of Parana, 3165, Curitiba, Paranб, Brazil*

^{2} *Braz Cubas University, 4145, Curitiba, Paranб, Brazil*

^{3} *Federal University of Parana, 1299, Curitiba, Paranб, Brazil*

### Abstract

SUCHLA, E. G., A. CATAPAN, B. L. S. BONFIM, M. F. CATAPAN and O. A. SIMХES, 2016. Sunfl ower production in Brazil: sensitivity of the fi nancial viability in the cultivation in farms through Monte Carlo simulation. *Bulg.** J. Agric. Sci.*, 22: 869–874

The main goal of this article is to investigate the economic viability of the production of sunfl owers in the context of the Paranб State in Brazil. In order to do that, there were realized interviews with small producers of the fi eld in the region. From the calculation of the Net Present Value (NPV), the Internal Rate of Return (IRR), and - to repair the limitations of this one – the Modifi ed Internal Rate of Return (MIRR), the elaboration of tables with the initial investment, infl ows and outfl ows (fi xed and variable), we have arrived to conclusions, simulating scenarios that varied from 1 to 1,000 planted hectares. The results point that for a crop of 1000 hectares, seeking a net present value of R$ 1 140 238.68 and an internal rate of return of 21.67%, the project is viable. The result confi rms a Benefi t/Cost Index that presents a return of R$ 4.79 for each Real invested.

*Key words: *sunfl ower, fi nancial viability, Monte Carlo Simulation