Development of Financial Model and Environmental Value of Roselle (Hibiscus sabdariffa) for Producing Natural Fiber Utilization into Technical Textile

Abstract

The objectives of this research are to develop a financial model of roselle fiber utilized into technical textile, as well as estimation of carbon emission and storage of its fiber utilization into Technical textile. The data were collected through the focus group discussion with roselle growers as well as the sellers. To supplement the primary data, the secondary data were used; the surrogate market mechanism also was applied. The cost benefit analysis model was developed. The results depicted that, the roselle fibers utilized into technical textile with aramid replacement by 30% financially is feasible with high NPV, ROI, IRR and BCR exceeding one. Moreover, varying the discount rate from 8% to 15% raising the price of clean bast fiber prices by 20% raising the cost of investment by 20%, the analysis illustrated that, roselle fiber is financially viable in all the suggested sensitivity analysis. The result of the investigation proposed a financial model can be used for commercialization of roselle plant and its fiber products. Also the study concluded that, the initiation of roselle fiber market is highly recommended and utilization of its fibers in industrial products is very crucial to help the farmers for generating additional income by using the fiber and diversify the products of the roselle crop. Also, the study concluded that, research in roselle core and bast usage in industrial applications is highly needed, also, the study concluded that, the assessment of environmental impact of roselle cultivation and fiber utilization is highly recommended.