Farm-level medicinal plants production and economic analysis in the Indian state of Punjab

Abstract

Farmers all across the world conduct experiments, and have done so for a long time, way before modern experimental science and its forerunners were acknowledged. Farmer techniques, based on their experience, have some advantages over agricultural specialists' field trials under the relevant local conditions, making documentation of successful agricultural practises essential. In this article, we document the successful farmer's practices of selected medicinal plants i.e. Aloe vera, Ocimum sanctum, and Curcuma longa in the Indian state of Punjab through farm-level observations and data. Following that, the cost-return structure of these medicinal plants was examined using average prices obtained from personal interviews utilising a questionnaire in order to demonstrate their economic potential over traditional crops (wheat and paddy). The study highlights that Aloe vera has Indian Rupee (INR) 92,876 (1127.55 USD) profit per one acre area, Curcuma longa has INR. 73,725 (895.05 USD) profit per one acre area, while Ocimum sanctum have INR 35,515 (431.16 USD) return over variable cost which is comparatively higher than wheat and paddy. The article underlines Ocimum sanctum as a successful competitor and replacer of paddy in Kharif/Monsoon season. The study's selection of common agricultural indicators and agricultural practises was mostly dependent on the inputs and average values provided by the farmers. Little variations, however, that cannot be measured to arrive at the compiled data may exist. The economic analysis in the present study is representable to only Punjab, however, the cost-return structure may vary in different states, and nations depending on ecological, and trade patterns. This article will serve as a guidance document for farmers interested in medicinal plant adoption owing to its on-field effective farmer practises and agro-economics.