Author: Someshwar B. Suryavanshi, Sachin S. More and Tukaram B. Munde
Download PDF
India holds the position of the world's largest producer, consumer, and exporter of turmeric. In the fiscal year 2023, Maharashtra emerged as the leading turmeric producer, contributing over 278 thousand metric tons. This study focused on assessing the economic impact of the Biomix product on turmeric cultivation for the period 2022-2023, with the Biomix being developed by the VNMKV Parbhani, a state agricultural university. Farmers can use this knowledge to make informed decisions about crop choices, resource allocation, and investment in technology or infrastructure. Additionally, economic impact assessments can inform policymakers about the needs of the agricultural sector, potentially leading to better support and policies that benefit farmers. Required primary cross-sectional data was gathered using a pre-tested schedule, and the analysis utilized partial budgeting techniques and profit regression. The result of study revealed that integrating Biomix and optimizing input utilization led to reduced cultivation costs and increased net profit for cultivators. Adopters achieved a gross produce of Rs. 43.73 per hectare, with a benefit-cost ratio of 1.59, surpassing non-adopters. Additionally, adopters recorded a net profit of Rs. 127, 196.12, outperforming non-adopters. The positive impact of yield on farmers' income was notably significant, with information sources, loans, and access to credit showing a statistically significant influence at the 1% level, indicating that an increase in these factors is associated with a significant rise in yield. Therefore the adopter farmers benefited from the use of Biomix in turmeric cultivation.
Turmeric, cost of production, economic impact, cost of cultivation, Biomix
In conclusion, the study found that adopters achieved a superior net profit of Rs. 127,196.12 compared to non-adopters with Rs. 63,551.04, resulting in a higher cost-benefit ratio for adopters (1.59) and a lower ratio for non-adopters (1.34). Furthermore, yield emerged as a significant positive influence on farmers' income. The source of information, loan, and access to credit demonstrated a positive and statistically significant impact at the 1% level, indicating their significant role in boosting yield. On the other hand, education negatively impacted farmers' income, with significance increasing with higher education levels. Conversely, the area under turmeric cultivation exhibited a significantly positive effect on farmers' income, along with yield. Meanwhile, annual income had a significantly negative effect, and factors such as age, family size, source of information, farming experience, loan, and valuation of assets showed non-significant effects on farmers' income.
-
-
Indexing