Economic analysis of corn production in agribusiness integration project in Changwat Prachin Buri [Thailand], 1989/90 crop year
1991
Vanlapa Vichachai
Study, by using Cobb-Douglas production function model, three variables, namely; human labor, cash expenses for seeds, fertilizers and chemicals and participating in the project could be used to explain maize production change. Human labor has the elasticity of production of 0.0369 while cash expenses for seeds, fertilizers and chemicals has the elasticity of production of 0.1012. Efficiency use of each factor, farmers should increase the use of both labor and cash expenses for seeds, fertilizers and chemicals while the non-participated farmers should reduce the use of but increase cash expenses for seeds, fertilizers and chemicals in order to reach the proper utilization of factors and to obtain higher profit. Average cost of production per rai of participated farmers was slightly higher than non-participated farmer at 737.35 Baht per rai compared to 732.73 and 640.30 Baht for hybrid and Suwan, respectively. The net return of participated farmers was 1,173.12 Baht per rai while net return from hybrid and Suwan of the non-participated farmers were 864.69 and 889.02 Baht per rai, respectively.
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