Evaluation for Economic Values of Domestic Fermented Raw Ham Market
2012
Jung, H.D., For Agriculture Consulting Co., Ltd., Seoul, Republic of Korea | Cheon, D.W., National Institute of Animal Science, RDA, Suwon, Republic of Korea | Choi, Y.S., Daejin University, Pocheon, Republic of Korea | Kim, K.H., Konkuk University, Seoul, Republic of Korea
This study aims to evaluate economic values for domestic production of fermented raw ham, which is considered as one of solutions to stagnant meat processing industry. The analysis has been done in three ways. First, the CVM analysis gives that the consumers' willingness to pay for fermented raw ham is 12,599 won/kg. Second, economic and business values of fermented raw ham is estimated for the period of 2011-2030 under four scenarios, distinguished by growth rates of industry. The total net present value of revenue 48,683 million won, 97,412 million won, 78,772 million won and 157,620 million won, respectively by scenarios. The total net present value of surplus cash flow 589 million won, 1,179 million won, 915 million won, 1,840 million won, respectively by scenarios. Last, economic induction effects of fermented raw ham production are turned out to be 1.8 billion won and 15 persons.
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