Economic analysis of dairy farm project under the restructuring of production plan in Changwat Phattalung
1997
Torranitsorn Klinpakdee
Ministry of Agriculture and cooperatives has implemented Agricultural restructuring Production plan since 1994. The objective of the plan is to increase farmer income by replacing rice, cassava, coffee been and peper with other promising commodities. Dairy farm project is one of the projects under the plan. The aim of the plan. The aim of the project is to replace rice with dairy cows. In order to raise five cows in the first year, a participating farmer has to invest amount 210,230 baht. The main objectives of the study were to conduct the financial feasibility study at farm level and the economic feasibility study at farm level and the economic feasibility study. Farm model was constructed and used as a representative farm in the project. Farm inflow and outflow over the lift of the project were estimated. And, costs and benefits at the project level were also estimated. The results, of the study reveal that the financial rates of return before financing and after financing with 10 years life span were 36 percent and 131 percent respectively. While the economic rates of return with 10 years life span was 16 percent. At 12 percent economic discount rate, net present value was 1,176,540 baht, benefit cost ratio was 1.08. From the results of the study, it can be concluded that the investment by the participating farmer is financially viable and the project is economically feasible.
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