The specifics of this are explained below, but here is the very condensed version that will make you the most money per day. Profit Maximization guide for Recipes, let you get more coins in FarmVille 2.
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ganache is, technically, the most profitable item in the game per unit produced. With sustained production it yields $847.50/hr - but in order to keep this up you need 8 non-prize goats, a few plots of land, and (get this) 10 sugar/hr. You also need to use a ridiculous amount of water to make the feed for the goats, or wait so long for slower-growing crops that you won't get anywhere near $847/hr. Skip this one.
Both of these use sugar which, as stated above, you should really be saving for powdered sugar instead. They both use enough water that you actually do better overall by skipping them both entirely even though they look good on a per-unit basis.
Tomato paste is the best vegan recipe at $100/hr - and note that this is superior to selling either straight tomatoes or blueberries @ $40/hr. Interestingly, because of the time it takes to replace the water you make $100/hr on tomato paste whether you raise all eight tomatoes at once or just raise one tomato at a time on a single plot; thus, the latter option is better as it leaves more plots free for other things.
On a practical note, in practice you probably won't end up optimizing your water usage 100% correctly all the time. If you ever find yourself with close to 30 waters in storage, planting long-growing crops will lose you money (since you lose any water above 30). Instead, spend a few minutes planting tomatoes in increments of 8 for tomato paste, or blueberries for feed. Once you have used up some of the water, you can then plant slower-growing crops immediately afterward in those same plots.
If you have few (or no) friends who can give you sugar, witchin' butter is currently the most profitable @ $245/hr.
When you consider the low water requirements for strawberry lemonade (.6 water/hr), it is actually the maximally profitable vegan recipe at $720/hr (and one of the top five most profitable items overall). However, take a look at the requirements for that: to use up all of your available water (and thus make that maximum profit) you would need to be crafting 32 strawberry lemonades simultaneously, meaning about 5*32=160 plots total. Lemonade is actually a much better deal; it's overall max is $700/hr, but you can do that with just lemon trees and no plots of land required. So you give up a mere $20/hr, but in exchange you don't need a single plot of land.
$560/hr, butter looks like a winner. However, note that this won't last long: in order to get this rate you will need 2 goats each producing 5 bottles of milk/hr. In a few hours your goats will be used up. Furthermore, the price isn't that great compared to just selling the bottles of milk; the advantage is only $10 per sale, or $60/hr.
Don't ever produce this for the purpose of selling it. As Lotus Blade points out, you will lose $458 per vanilla cream as opposed to simply selling the ingredients it takes to make it. I will post an update with how this factors into the value of recipes in which it is used.
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