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Economic Valuation of Medicinal Plants in Peninsular Malaysia

Medicinal plants are known as important non-timber forest products (NTFPs), besides bamboo and rattan, which have had great demand by rural people and the industries lately. The increasing awareness of herbal remedies and the demand of herbal products have led to crucial requirement of the local...

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Main Author: Muhammed Idris, Mohd Azmi
Format: Thesis
Language:English
Published: 2004
Subjects:
Medicinal plants - Malaya - Economic aspects - Case studies
Online Access:http://psasir.upm.edu.my/id/eprint/6088/1/FH_2004_8.pdf
http://psasir.upm.edu.my/id/eprint/6088/
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spelling my.upm.eprints.60882023-01-13T03:19:16Z http://psasir.upm.edu.my/id/eprint/6088/ Economic Valuation of Medicinal Plants in Peninsular Malaysia Muhammed Idris, Mohd Azmi Medicinal plants are known as important non-timber forest products (NTFPs), besides bamboo and rattan, which have had great demand by rural people and the industries lately. The increasing awareness of herbal remedies and the demand of herbal products have led to crucial requirement of the local resources by the traditional medicine industries. For sustainable management of medicinal plants in the forest, there is a need to place proper values (potential and extracted values) that reveal the importance of these r esources. T hese v alues c ould i ncrease the e nvironmental b enefits, i mportant t o decision-makers, that affect the environment if optimal choices are to be made. By using market price approach, the economic values (residual value) of medicinal plants were estimated at three study sites, namely Gunung Raya, Bukit Perak and Gunung Jerai Forest Reserves at Kedah, Peninsular Malaysia. From the industrial and collectors survey, the status of the total requirement and total collection of the resources was determined. Input-use efficiency in the harvesting activities of medicinal plants was also examined. The study revealed that the average total residual values for medicinal plants per hectare in Gunung Raya Forest Reserve were RM1,654.87, RM3,746.07 at Bukit Perak Forest Reserve and RM964.53 at Gunung Jerai Forest Reserve. The total requirement of local medicinal plants by the industries (476,339 kg) per year were found exceeding the total collection of medicinal plants (103,620 kg) per year, showing the high dependency of traditional medicine industries on the local resources. From the production function analysis, the workers and harvesting tools were insufficiently used during the harvesting session. Without proper monitoring and management, the unbalanced situation of medicinal plants' demand and supply could become more critical in the years to come. Some relevant measures were recommended from this study. 2004-04 Thesis NonPeerReviewed text en http://psasir.upm.edu.my/id/eprint/6088/1/FH_2004_8.pdf Muhammed Idris, Mohd Azmi (2004) Economic Valuation of Medicinal Plants in Peninsular Malaysia. Masters thesis, Universiti Putra Malaysia. Medicinal plants - Malaya - Economic aspects - Case studies
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
topic Medicinal plants - Malaya - Economic aspects - Case studies
spellingShingle Medicinal plants - Malaya - Economic aspects - Case studies
Muhammed Idris, Mohd Azmi
Economic Valuation of Medicinal Plants in Peninsular Malaysia
description Medicinal plants are known as important non-timber forest products (NTFPs), besides bamboo and rattan, which have had great demand by rural people and the industries lately. The increasing awareness of herbal remedies and the demand of herbal products have led to crucial requirement of the local resources by the traditional medicine industries. For sustainable management of medicinal plants in the forest, there is a need to place proper values (potential and extracted values) that reveal the importance of these r esources. T hese v alues c ould i ncrease the e nvironmental b enefits, i mportant t o decision-makers, that affect the environment if optimal choices are to be made. By using market price approach, the economic values (residual value) of medicinal plants were estimated at three study sites, namely Gunung Raya, Bukit Perak and Gunung Jerai Forest Reserves at Kedah, Peninsular Malaysia. From the industrial and collectors survey, the status of the total requirement and total collection of the resources was determined. Input-use efficiency in the harvesting activities of medicinal plants was also examined. The study revealed that the average total residual values for medicinal plants per hectare in Gunung Raya Forest Reserve were RM1,654.87, RM3,746.07 at Bukit Perak Forest Reserve and RM964.53 at Gunung Jerai Forest Reserve. The total requirement of local medicinal plants by the industries (476,339 kg) per year were found exceeding the total collection of medicinal plants (103,620 kg) per year, showing the high dependency of traditional medicine industries on the local resources. From the production function analysis, the workers and harvesting tools were insufficiently used during the harvesting session. Without proper monitoring and management, the unbalanced situation of medicinal plants' demand and supply could become more critical in the years to come. Some relevant measures were recommended from this study.
format Thesis
author Muhammed Idris, Mohd Azmi
author_facet Muhammed Idris, Mohd Azmi
author_sort Muhammed Idris, Mohd Azmi
title Economic Valuation of Medicinal Plants in Peninsular Malaysia
title_short Economic Valuation of Medicinal Plants in Peninsular Malaysia
title_full Economic Valuation of Medicinal Plants in Peninsular Malaysia
title_fullStr Economic Valuation of Medicinal Plants in Peninsular Malaysia
title_full_unstemmed Economic Valuation of Medicinal Plants in Peninsular Malaysia
title_sort economic valuation of medicinal plants in peninsular malaysia
publishDate 2004
url http://psasir.upm.edu.my/id/eprint/6088/1/FH_2004_8.pdf
http://psasir.upm.edu.my/id/eprint/6088/
_version_ 1755873887055249408
score 13.211869

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