Analysis on cost and profit in farming activity in Malaysia

• Main Author: Yusoff, Noraniza
• Format: Conference or Workshop Item
• Language: English
• Published: 2015
• Subjects: HC Economic History and Conditions
• Online Access: http://repo.uum.edu.my/17038/1/05.pdf; http://repo.uum.edu.my/17038/

Agriculture was a main basis of occupation for many of Association of Southeast Asian Nations countries. Association of Southeast Asian Nations is a main producer of essential subsistence, fruit, industrial crops and aquaculture goods, which create quite large export profits throughout Southeast Asian countries.The purpose of this study was to analyze cost and profit in food production permanent park using linear regression analysis.Data had collected through quantitative approach via survey questionnaire.Result show that the regression model statistically predicts the outcome variable which is cost has correlation with profit.This study suggests risk management strategy to enhance farming development.Several threat management approaches are more relevant and cost efficient for comparatively smaller growers engaging in the local food arrangements.Risk management approaches concerned with such threats rank from varying crops to accept recent technology.In present-day, there has been a growth in utilize of cost-effective approaches to decrease yields threats that are more relevant for local growers.These approaches mainly require season expansion technology for crop yield. Risk management also involves marketing risk entail adopting the suitable marketing medium which is necessary as this will have vast effects on the farm’s money-making.