Economic Impact Assessment on Nakhonsawan 3 : Drought Tolerant Hybrid Maize

Abstract

The economic impact of Nakhonsawan 3 drought tolerant hybrid maize has been assessed. Both primary and secondary data were collected. The secondary data was compiled from research project reports and text books whereas primary data were gathered by field survey interviewing farmers and relevant partners. The analysis employed both descriptive and quantitative methods including economic surplus approach to investigate the research benefit and indicator for the worthiness of research investment. During the financial years of 2004-2016, the NS3 Maize breeding research project has had a budget of 26.61 million baht for both research and extension. The economic impact assessment showed that the net present value of akhonsawan 3 was equaled to is 197 million baht. The benefit cost ratio was 6.29 baht and the internal rate  of return of 46%. It showed that the economic benefit from the research investment covered the research investment cost. Hence, the research project has been worthwhile. The department of agriculture should continue to support the research and development of plant breeding projects to get new varieties in response to farmer's demand for food security in the future.