Cost Analysis of Thai Herbs in Maha Sarakham Province

Abstract

Background and Aims: The Herb City Project has designated Maha Sarakham Province as an extension area. Efforts are being made to convert monoculture to mixed cropping in order to increase farmers' income and self-sufficiency. The purpose of this study is to examine the expenses and profits incurred by agricultural groups in Maha Sarakham Province when they invest in Thai herbs.

Methodology: The study used qualitative techniques, conducting structured interviews with 20 farmers in the Maha Sarakham Province to collect data.

Results: The average yearly sales for the farmers are as follows: turmeric (67,200 baht), roselle (43,750 baht), lemongrass (17,850 baht), and Thai jasmine rice (105 baht). The highest return on investment (ROI) is 71.08% for turmeric, followed by 48.96% for lemongrass, 28.26% for Thai jasmine rice 105, and 64.00% for roselle. Thai jasmine rice 105's net profits are 2,690 baht, turmeric's 47,768 baht, roselle's 28,000 baht, and lemongrass' 8,740 baht all follow the same pattern.

Conclusion: According to the data, farmers can make the most money from turmeric, which has the highest average annual sales and return on investment (ROI). Roselle, lemongrass, and Thai jasmine rice 105 are the next most profitable crops. Both net profits and return on investment are ranked similarly in terms of profitability.