Comparative Financial Analysis of Cricket Production in Khon Kaen Province

Abstract

The objectives of this study were (1) to study the general characteristics of cricket farmers under GAP and general standards of cricket farming in the Khon Kaen province; and (2) to analyze the returns on financial investment under GAP standards and general standards of cricket farming in Khon Kaen province. The data was collected by interviewing through questionnaire 20 farm samples selected by purposive sampling which consist of farms under general standards 10 samples and farms under GAP 10 samples. The study results revealed that: farmers who raise crickets under GAP and general standards in Khon Kaen Province, mostly were male, average age 40 years, having education at high school education, level and having an average of 5 years of experience in raising crickets. Most farmers raised crickets for additional income. They sold their crickets to middlemen and processing factories. Investment on cricket farming under GAP standards gave worth more farming under general standard. In more detail, the results showed that investment on farming under GAP standard generated Net Present Value (NPV) of 576,558.68-baht, Benefit Cost Ratio (BCR) of 1.27 and Internal Rate of Return of 84% while investment on farming under general standard induced Net Present Value (NPV) of 237,223.77-baht, Benefit Cost Ratio (BCR) of 1.18 and Internal Rate of Return (IRR) of 104%. Even investment on farming under GAP standard resulted more worth than general standard, investment on both systems faced high cost. Hence, the farmers should conduct farming in the form of farmer group in order to get support from the government agencies to improve production process for lower cost and higher net returns.