Social return on investment of cultivating premium organic cherry tomatoes in Ubon Ratchathani Province, Thailand
Panamon Chantabutr, Taweesak Viyachai, Thin Promchot, Parkpoom Subnugarn, Nimmannoradee Promtong, Rugkeart Sanprasert
Abstract: The cultivation of organic cherry tomatoes in greenhouses is being promoted by the government as a new cash crop for farmers. Analyses of the return on investment (ROI) for organic cherry tomato production are relatively extensive. However, there is still a lack of SROI analyses to provide comprehensive information for informed decision-making. The study investigated the cost-benefit analysis and social return on investment (SROI) of cultivating high-quality organic cherry tomatoes using substrate culture in greenhouses located in Ubon Ratchathani Province, Thailand. Cherry tomato cultivation costs were primarily driven by planting materials, greenhouse depreciation, and plant protection (21.29%, 20.53%, and 16.85%, respectively). Expanding the analysis to consider the impact on all stakeholders revealed positive effects on the economy, society, and the environment. This resulted in a significantly higher net present value (€1178.51) and internal rate of return (28.34%). The payback period was short (1 year and 11 months), and the SROI ratio was favorable (1.42). By considering both financial and non-financial indicators, this study concludes that cultivating high-quality organic cherry tomatoes in greenhouses is not only economically viable but also promotes social and environmental well-being. Therefore, promoting this practice for wider adoption among Thai growers is highly recommended.
Keywords: Cost-Benefit Analysis; Organic Cherry Tomatoes; Social Return on Investment; Substrate culture
Citation: Chantabutr, P., Viyachai, T., Promchot, T., Subnugarn, P., Promtong, N. & Sanprasert, R. (2025). Social return on investment of cultivating premium organic cherry tomatoes in Ubon Ratchathani Province, Thailand. Bulg. J. Agric. Sci., 31(2), 274–282.
| References: (click to open/close) | Anastasova-Chopeva, M. (2019). Methodological approach to measuring social sustainability in agriculture. Ikonomika i upravlenie na selskoto stopanstvo, 64(2), 23-33 (Bg).
Bank of Thailand (2022). Monetary Policy Report. Retrieved from: https://www.bot.or.th/Thai/MonetaryPolicy/MonetPolicyComittee/MPR/DocThai_November2022.pdf.
Basset, F. (2023). The evaluation of social farming through social return on investment: A Review. Sustainability, 15(4), 3854. https:// doi.org/10.3390/su15043854
Basset, F. & Giarè, F. (2021). The sustainability of social farming: a study through the Social Return on Investment methodology (SROI). Italian Review of Agricultural Economics, 76(2), 45-55.
Drèze, J. & Stern, N. (1987). The theory of Cost-Benefit Analysis. In: Handbook of Public Economics. In: Handbook of Public Economics 2. Elsevier., North-Holland, NL, 909–989.
Dunn, H. (2012). Accounting for Environmental Impacts: Supplementary Green Book Guidance. HM Treasury, London.
Edwards, R. T. & Lawrence, C. L. (2021). ‘What You See is All There is’: the importance of heuristics in cost-benefit analysis (CBA) and social return on investment (SROI) in the evaluation of public health interventions. Applied Health Economics and Health Policy, 19(5), 653-664.
European Commission (2015). Guide to Cost-Benefit Analysis of investment projects: Economic appraisal tool for Cohesion Policy 2014–2020. Publications Office, Brussels (Bg).
Fürtner, D., Perdomo Echenique, E. A., Hörtenhuber, S. J., Schwarzbauer, P. & Hesser, F. (2022). Beyond monetary cost-benefit analyses: Combining economic, environmental and social analyses of short rotation coppice poplar production in Slovakia. Forests, 13(2), 349. 10.3390/f13020349
Garrison, R., Noreen, E. & Brewer, P. (2010). Managerial accounting (13th ed.). McGraw Hill, Irwin.
Hoogmartens, R., Van Passel, S., Van Acker, K. & Dubois, M. (2014). Bridging the Gap between LCA, LCC and CBA as Sustainability assessment tools. Environmental Impact Assessment Review, 48, 27-33.
Ivanova, P. (2023). Land relations: social impacts and projections. Bulg. J. Agric. Sci., 29(Supplement 1), 64-70.
Maneechoti, S. & Athinuwat, D. (2019). Small farmer community in Nakhon Sawan Province. Thai Journal of Science and Technology, 8(6), 596-608.
Millar, R. & Hall, K. (2013). Social return on investment (SROI) and performance measurement: The opportunities and barriers for social enterprises in health and social care. Public Management Review, 15(6), 923–941. https://doi.org/10.1080/14719037.2012.698857.
Mitra, S., Ghose, A., Gujre, N., Senthilkumar, S., Borah, P., Paul, A. & Rangan, L. (2021). A review on environmental and socioeconomic perspectives of three promising biofuel plants Jatropha curcas, Pongamia pinnata and Mesua ferrea. Biomass and Bioenergy, 151, 106173.
Modnok, J., Bodeera, N., Thanoi, T., Kumchai, J., Suwor, P., Tarinta, T., Techawongstien, S. & Jeeatid, N. (2022). Fruit yield and consumption quality of F1 hybrids cherry tomato grown under plastic-net house and evaporative cooling greenhouse. Journal of Agriculture, 38(3), 381-392.
Nicholls, A. (2009). We do good things, don’t we? Blended value accounting in social entrepreneurship. Accounting, Organizations and Society, 34(6-7), 755-769. Retrieved from: 10.1016/j.aos.2009.04.008.
Nicholls, J., Lawlor, E., Neitzert, E. & Goodspeed, T. (2012). A Guide to Social Return on Investment (2nd ed.). The Cabinet Office, London. https://www.socialvaluelab.org.uk/wp-content/uploads/2016/09/SROI-a-guide-to-social-return-on-investment.pdf. Retrieved from https://www.socialvaluelab.org.uk/wp-content/uploads/2016/09/SROI-a-guide-to-social-return-on-investment.pdf.
Office of Agricultural Economics (2020). Tomatoes: cultivation area harvested area, yield and productivity per rai in 2020. Retrieved from https://www.oae.go.th/view/1/%A8/TH-TH.
Office of Agricultural Economics (2021). Tomatoes: cultivation area harvested area, yield and productivity per rai in 2021. Retrieved from: https://shorturl.at/gzM03
Promchot, T., Subnugarn, P., Promtong, N., Promchote, T. P., Pongtong, K., Sanprasert, R. & Viyachai, T. (2022). Participatory action research for greenhouse organic cherry tomato production technology development for premium market in Ubon Ratchathani Province. Ubon Ratchathani: Ubon Ratchathani University.
Rauscher, O., Schober, C. & Millner, R. (2012). Social impact measurement and social return on investment (SROI)-analysis. New methods of economic evaluation. Retrieved from: https://socialvalueuk.org/wp-content/uploads/2023/01/Social-Impact-Measurement-and-SROI_English_Version_final_2-4.pdf
Resh, H. M. (2013). Hydroponic Food Production: A Definitive Guidebook for the Advanced Home Gardener and the Commercial Hydroponic Grower, Seventh Edition. CRC Press, Boca Raton.
Royal Project Foundation (2019). Selection of Small Fruit Tomato Varieties. Retrieved from: https://archive.lib.cmu.ac.th/full/rpf/2562/rpf251-62.pdf
Thailand Federation of Accounting Professions (2019). Thai Financial Reporting Standards (Revised 2017) No.16 Property, Plant and Equipment. Retrieved from: https://www.tfac.or.th/upload/9414/L0MtN14QDC.pdf
The SROI Network (2012). A Guide to Social Return on Investment. Retrieved from: http://www.socialvaluelab.org.uk/wp-content/uploads/2016/09/SROI-a-guide-to-social-return-on-investment.pdf
The Stock Exchange of Thailand (2023). Direction of Business Driving According to the Sustainable Development Goals - Sustainability Issues that Affect the Survival of Thai Businesses (BCP). Retrieved from: https://setsustainability.com//download/8zx9kqt16y4pji5
Vardakouli Vardakoulias, O. (2013). The Economic Benefits of Ecominds: A Case Study Approach. Nef Consulting Limited, London, 1-25, Retrieved from: 10.1016/j.aos.2009.04.008. |
|
| Date published: 2025-04-28
Download full text 
