Potential Financial feasibility Analysis of Soybean Tempe production in Madagascar based on Indonesian Soybean Tempe Home Industry

Lantoarinala Seheno Arson Dolly, Minar Ferichan, Heru Irianto


Originally from Indonesia, tempe is a traditional fermented soybean food. Madagascar has enormous potential for soybean production. However, there is a decline in production due to lack of product processing and marketing knowledge. The promotion of this commodity help to contribute to food security and to fight against malnutrition and poverty by improving the income of the actors. This research aim to analyze the soybean tempe business (small scale industry) in Surakarta city in order to introduce and implement that business in other countries. Madagascar is the target country in this research. A financial feasibility study was conducted to determine an eventual launch of soybean tempe business in Madagascar and to predict the market acceptance. The result shows that the average cost of soybean production in a month in Surakarta City is Rp13 751 786. The average revenue is Rp15 917 067, so that we get an average profit of Rp2 165 281 per month. The soybean tempe business is beneficial with a profitability value of 15.74%. The efficiency value is estimated at 1.16. Based on the local price in Madagascar and the analysis made in Indonesia, it was determined that the project need an initial investment of Rp14 661 638 for the launch of the business. The Benefit Cost Ratio (BRC), the Net Present Value (NPV) and the Internal Rate of Return (IRR) show that the soybean tempe business is clearly feasible in Madagascar. The comparative analysis of price reveal also that soybean tempe is a good alternative for the Malagasy people as it is far cheaper than the other food rich in protein. However, the sensitivity analysis highlighted that the business cannot resist to an increase of 10% of the soybean price or a decrease of 10% of the production or both.

Kata Kunci

Tempe, Business Analysis, Financial analysis, Surakarta, Madagascar

Teks Lengkap:

PDF (English)


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