Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis
Tahiti limes were an important fruit tree crop in South Florida until the late 1990s. Several factors contributed to the demise of the Florida lime industry, namely the impact of hurricane Andrew in 1992 and the arrival of Citrus Canker (CC) in 1995. The Florida lime industry was then eradicated in...
| Autores principales: | , |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Informa UK Limited
2023
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/137168 |
| _version_ | 1855543144591917056 |
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| author | Ballen, F.H. Blare, T. |
| author_browse | Ballen, F.H. Blare, T. |
| author_facet | Ballen, F.H. Blare, T. |
| author_sort | Ballen, F.H. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Tahiti limes were an important fruit tree crop in South Florida until the late 1990s. Several factors contributed to the demise of the Florida lime industry, namely the impact of hurricane Andrew in 1992 and the arrival of Citrus Canker (CC) in 1995. The Florida lime industry was then eradicated in the early 2000s to protect the main commercial citrus industry from CC. This article focuses on the financial viability of reintroducing Tahiti lime production in South Florida. A total of 20 Tahiti lime scion/rootstock combinations were evaluated under endemic CC and Citrus Greening (CG) conditions. We created a deterministic and a stochastic budget to evaluate the feasibility of reintroducing Tahiti limes in South Florida that incorporated yields from experimental plots. We also implemented a financial analysis, that included net present value (NPV) and internal rate of return (IRR) estimations, for a 20-year period with the Tahiti lime/citrus macrophylla (TL/CM), the best performing scion/rootstock combination. Our findings indicated that Tahiti lime production in South Florida was not financially feasible; we obtained a negative NPV from both the deterministic and stochastic budgets. We conclude with a discussion of potential scenarios for the Tahiti lime industry in the US and on lessons for other crops that face similar production challenges. |
| format | Journal Article |
| id | CGSpace137168 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | Informa UK Limited |
| publisherStr | Informa UK Limited |
| record_format | dspace |
| spelling | CGSpace1371682025-10-26T12:56:47Z Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis Ballen, F.H. Blare, T. huanglongbing economic analysis invasive species citrus pests Tahiti limes were an important fruit tree crop in South Florida until the late 1990s. Several factors contributed to the demise of the Florida lime industry, namely the impact of hurricane Andrew in 1992 and the arrival of Citrus Canker (CC) in 1995. The Florida lime industry was then eradicated in the early 2000s to protect the main commercial citrus industry from CC. This article focuses on the financial viability of reintroducing Tahiti lime production in South Florida. A total of 20 Tahiti lime scion/rootstock combinations were evaluated under endemic CC and Citrus Greening (CG) conditions. We created a deterministic and a stochastic budget to evaluate the feasibility of reintroducing Tahiti limes in South Florida that incorporated yields from experimental plots. We also implemented a financial analysis, that included net present value (NPV) and internal rate of return (IRR) estimations, for a 20-year period with the Tahiti lime/citrus macrophylla (TL/CM), the best performing scion/rootstock combination. Our findings indicated that Tahiti lime production in South Florida was not financially feasible; we obtained a negative NPV from both the deterministic and stochastic budgets. We conclude with a discussion of potential scenarios for the Tahiti lime industry in the US and on lessons for other crops that face similar production challenges. 2023-12-31 2024-01-04T18:47:17Z 2024-01-04T18:47:17Z Journal Article https://hdl.handle.net/10568/137168 en Open Access Informa UK Limited Ballen, F.H.; Blare, T. 2023. Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis. International Journal of Fruit Science. ISSN 1553-8621. 23(1). 267–277. |
| spellingShingle | huanglongbing economic analysis invasive species citrus pests Ballen, F.H. Blare, T. Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis |
| title | Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis |
| title_full | Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis |
| title_fullStr | Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis |
| title_full_unstemmed | Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis |
| title_short | Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis |
| title_sort | are tahiti limes profitable in south florida a deterministic and stochastic budget analysis |
| topic | huanglongbing economic analysis invasive species citrus pests |
| url | https://hdl.handle.net/10568/137168 |
| work_keys_str_mv | AT ballenfh aretahitilimesprofitableinsouthfloridaadeterministicandstochasticbudgetanalysis AT blaret aretahitilimesprofitableinsouthfloridaadeterministicandstochasticbudgetanalysis |