Economic analysis of dairy farm in Changwat Saraburi and Ratchaburi in 1996
1998
Chaiphat Rajchakup
Objectives of this research study are to analyze the operations of farm business and compare the costs and returns of production among the small, medium and large scales dairy farms using data from the farm accounts with a sample size of 101 farms. The analysis of the milk production function using a Cobb-Douglas form of equation discloses that factors of production such as: the number of milking cow, concentrate feed, roughage and capital fund used on milking cow significantly explain the variations in raw milk production and that the production function exhibits constant returns to scale. Study of farm business operations indicates that medium and large scale farms generate higher returns on factors of production than small farms. Therefore small farms should be encourage to increase there scale in order to achieve higher return. Analysis of costs and returns on raw milk production shows that the medium scale farm in Saraburi and large scale in Ratchaburi operate at the lowest costs and generate highest levels of profit as compare to farms with other scale in each province.
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