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Yield Assessment and Financial Return Analysis of 6 Years Old Acacia mangium Willd. at Wang Nam Khiao Forestry Research and Student Training Station, Nakhon Ratchasima Province |
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| รหัสดีโอไอ | |
| Creator | Supasit Sriarkarin |
| Title | Yield Assessment and Financial Return Analysis of 6 Years Old Acacia mangium Willd. at Wang Nam Khiao Forestry Research and Student Training Station, Nakhon Ratchasima Province |
| Contributor | Santi Suksard, Weeraphart Khunrattanasiri, Wasun Jundang, Nopphorn Junkerd, Suntipong Tuklang |
| Publisher | Kasetsart University |
| Publication Year | 2565 |
| Journal Title | Thai Journal of Forestry |
| Journal Vol. | 41 |
| Journal No. | 2 |
| Page no. | 63-74 |
| Keyword | Tree volume equation, Financial cost benefit analysis, Risk, Acacia mangium Willd., Forest plantation |
| URL Website | https://li01.tci-thaijo.org/index.php/tjf/issue/view/17487 |
| Website title | Thai Journal of Forestry |
| ISSN | 2730-2180 |
| Abstract | The objectives of this study were to determine the merchantable volume equation, the subsequent financial analysis of the investment, and risk assessment of a 6-year-old Acacia mangium Willd. plantation at the Wang Nam Khiao Forestry Research and Student Training Station, Nakhon Ratchasima Province. Three methods for investment suitability analysis were used and included net present value (NPV), benefit-cost ratio (B/C), and internal rate of return (IRR) with discount rates of 3%, 5%, 7%, and 9%. In addition, a project risk assessment was done through switching value tests of cost and benefit. The merchantable volume equation had the form log(VM) = 3.45991 + 2.04401 log(DBH) or VM = 0.00035 DBH2.04401 (R2 = 0.943). Total merchantable volume estimated at 11.32910 cubic meters per rai or a merchantable fresh mass of 9.28 tons per rai throughout the duration of the plantation. The financial analysis indicated that a profitable 6-year-old A. mangium plantation was from discount rates of 3%, 5%, and 7% which yielded an NPV > 0, B/C > 1, and an IRR which was more than the discount rate. On the contrary, the losses were incurred at a discount rate of 9%. The switching value test of cost and benefit with discount rates of 3%, 5%, and 7% was relatively low, indicating that investment in A. mangium trees after six years was quite risky if the investment costs increased or diminishing returns on income from the plantation. |
