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Performance financial analysis of rubber cooperatives in Trat Province, Thailand
Author(s)
Kromkratoke, W.
Date Issued
December 1, 2018
Type
Article
Abstract
The financial performance of rubber cooperatives in Trat Province, Thailand was studied. The results revealed that characteristics of rubber cooperatives were divided into primary and secondary businesses. Four rubber cooperatives obtained the highest revenue from gathering rubber products as primary business, accounting for 50 percent of all rubber cooperatives, covering 22.53 million (THB.) per year. Regarding secondary business, two rubber cooperatives generated the highest revenue by supplying and selling fertilizer and agricultural chemicals, and processing rubber products accounting for 4 million (THB) per year. Seven cooperatives (87.5%) had acceptable financial performance ratios. This finding implied that these cooperatives were successful in terms of operation. The ability of rubber cooperatives to meet current obligations and the use of resources were effective. In contrast, only one cooperative investing in rubber processing gained an unacceptable financial performance ratio which was below than 2. The Acid-test (-0.17) demonstrated rubber cooperative dependency upon inventory. Additionally, the inventory turnover ratio was excessively high. There was much invested in rubber processing, machinery, and equipment. Cooperative management should consider financial ratios as an important tool to investigate the performance of rubber cooperatives.
Citation
International Journal of Agricultural Technology, 14(7), 1335-1346, 2018