It was an economic risk due to an unsuccessful introduction of a new plant took place in Dak Lak province that caused an agricultural crisis in the local region.
During a period between 2010 and 2015, the local governments in Central Highlands, particularly in Dak Lak province, launched forest farming policies relating to improving biodiversity of crops in the region, in which encouraged farmers improve household likelihoods by adapting imported varieties as alternative options for traditionally industrial crops like coffee, pepper, cashews in their farms. Among imported species, maccadania that is an industrial plant originated in Australia has been selected almost villagers because of its high economic value. Initially, it happened to many families living in the rural areas of Dak Lak provinces as they decided to grow a huge area of plantation of maccadania instead of developing traditional industrial crops like coffee and pepper or cashews. Because they said that the prices of these agricultural products is a significant drop and the farmers realized that there was a need to replace another species which offered them better income. So, they decided to clear off available crops at their estate to establish a large area of macadamia plantations without concerning about its probability. However, the introduction of this new species has failed and it impacted significantly on individual incomes as well as the local economy.
Generally, I think there were two major reasons why the local authority was unsuccessful in introducing macadamia to farmers.
Firstly, they did not actually know about the economic risk of taking this species because the market of this species is instable, many farmers were facing to great challenges in finding its market for their products. That situation made them run into debt and the local government was under fire from the public.
Secondly, unfavourably ecological conditions in Dak Lak have impacted the production of tree fruit. Although, this tree still has a good perform in growth and become mature plant, it did not produce many fruit as expected
It was an economic
risk
due to an unsuccessful introduction of a new plant took place in
Dak
Lak
province that caused an agricultural crisis in the
local
region.
During a period between 2010 and 2015, the
local
governments
in Central Highlands,
particularly
in
Dak
Lak
province, launched forest farming policies relating to improving biodiversity of
crops
in the region, in which encouraged farmers
improve
household likelihoods by adapting imported varieties as alternative options for
traditionally
industrial
crops
like coffee, pepper, cashews in their farms. Among imported species,
maccadania
that is
an industrial plant originated in Australia has
been selected
almost villagers
because
of its high economic value.
Initially
, it happened to
many
families living in the rural areas of
Dak
Lak
provinces as they decided to grow a huge area of plantation of
maccadania
instead
of developing traditional industrial
crops
like coffee and pepper or cashews.
Because
they said that the prices of these agricultural products is a significant drop and the farmers realized that there was a need to replace another species which offered them better income.
So
, they decided to
clear
off available
crops
at their estate to establish a large area of macadamia plantations without concerning about its probability.
However
, the introduction of this new species has failed and it impacted
significantly
on individual incomes
as well
as the
local
economy.
Generally
, I
think
there were two major reasons why the
local
authority was unsuccessful in introducing macadamia to farmers.
Firstly
, they did not actually know about the economic
risk
of taking this species
because
the market of this species is
instable
,
many
farmers were facing to great challenges in finding its market for their products. That situation made them run into debt and the
local
government
was under fire from the public.
Secondly
,
unfavourably
ecological conditions in
Dak
Lak
have impacted the production of tree fruit. Although, this tree
still
has a
good
perform in growth and become mature plant, it did not produce
many
fruit as
expected