Land use planning for reducing risk of high land vegetables production
2011
Narinrat Kalampabut(Kasetsart University, Bangkok (Thailand). Graduate School) E-mail:[email protected] | Visit Limsombunchai(Kasetsart University, Bangkok (Thailand). Faculty of Economics. Department of Agricutural and Resource Economics)
This study analyzed the land use plan for high land vegetables production of farmers in the Nong Hoi Royal Project Development Center by using the Modern Portfolio Theory. Costs and returns on vegetable production of different 10 types (Red Oak Leaf, Green Oak Leaf, Head Lettuce, Chinese Cabbage, Spinach, Radicchio, Doi Kham Chinese Kale, Chinese Cabbage-Michilli, Cabbage, and Kailaan) for the past 5 years were collected and analyzed according to the production seasons (rain, winter and summer). The results showed that a higher return on production planning would increase the risk. Therefore, to reduce the production risk, the diversification by growing various types of vegetables in the field should be practiced is required, which would reduce the risk and yield a good return level to the farmer. The results from this study propose the alternatives to the farmers to produce at the optimal returns and risk levels that they have a preference. For example, in rain season, if the farmer could bear the production risk at 5.53 and the return at 84.73 percent, the farmer should grow Green Oak Leaf, Chinese Cabbage-Michilli, and cabbage at 51 percent, 14 percent and 35 percent of the total cultivated area, respectively.
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