Yield Assesment and Financial Analysis of Chukrasia tabularis A. Juss. at Prachuap Khiri Khan Silvicultural Research Station, Prachuap Khiri Khan Province

Abstract

                The objectives of this study were to analyze the merchantable volume table, firewood volume table equation, and financial analysis of Chukrasia tabularis A. Juss., in a total of 6 equally spaced plots at Prachuap Khiri Khan silvicultural research station, Prachuap Khiri Khan province. Suitable indicators of 3 criteria methods, benefit–cost ratio (B/C), net present value (NPV), and internal rate of return (IRR) were used, at a given discount rate of 6, 8, 10, and 12% and switching value test of the costs and benefits of the project. 

                The equations for estimating the merchantable volume table of C. tabularis A. Juss. was V_M= 0.000051523 DBH^2.692, R² = 0.8666, with a DBH > 10 cm, and estimating firewood volume table of C. tabularis A. Juss. was V_F = 0.000126765 DBH^2.583, R² = 0.7686 with a DBH < 10 cm. Financial analysis of the average yield of C. tabularis A. Juss. at different spacings showed that a spacing of 3 m x 4 m, 3 m x 5 m, and 3 m x 6 m at given discount rates of 6, 8, 10% and spacing 4 m x 4 m, 4 m x 5 m, and 4 m x 6 m at the given discount rates of 6, 8, 10, and 12% had a B/C > 1, NPV > 0, and IRR more than that determined by the discount rate. Thus, C. tabularis A. Juss. plantation can be deemed as a project that made a profit. A spacing of 4 m x 6 m yielded the most profit because IRR was 12.81 percent. Switching value test of cost-benefit of different spacing showed that the spacing of 3 m x 4 m, 3 m x 5 m, and 3 m x 6 m, 4 m x 4 m, 4 m x 5 m, and 4 m x 6 m at a discount rate of 6, 8, and 10% was rather high, which indicates to it being a low-risk investment. Therefore, the investment in the C. tabularis A. Juss. plantation is an economically viable project.