Financial possibility of converting degraded tiger prawn farm areas into mangrove forest
1994
Apiwan Kamlang-EK (Kasetsart Univ., Bangkok (Thailand). Faculty of Economics. Dept. of Cooperative)
Results of the financial analysis of the project reveal that investment of mangrove forest plantation was beneficial. At the interest rate of 7 percent, the net present value of the project was 770.70 baht/rai the benefit cost ratio was 1.08. The internal rate of return of the projet was 8.19 percent. The economic analysis of the project confirms that the project was beneficial and the net gain are very higher than the one of finacial analysis. At the same interest rate, the net present value of the project was 11,144.90 baht/rai, the benefit cost ratio was 1.86 and the internal rate of return of the project was 18.86 percent. The results of the acceptance survey show that 28 percent of the informants agreed in planting mangrove in their degraded tiger prawn farm areas and the areas along the river and the canal bank were selected as the first choice for planting. Though the financial analysis shows the potential of the mangrove forest plantation, the rate of return is rather small. If the cost of investment per rai increases, the risk will be very high. The economic analysis confirms that the project is beneficial and competitive to others. Most importantly, the research leads to the conclusion that the government should have a clear-cut policy to support the private sector in commercial mangrove plantation. The government should also provide financial support such as low-interest loan to the interested private sector. Markets for the mangrove products must be established and expanded. Law to protect this joint venture related to mangrove products should be developed. Increasing the awareness on sustainable use of the mangrove of the people particularly those relying the mangrove should be accelerated.
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