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Investing
in the development and regulatory activities to commercialize
the PRSV papaya technology would result in substantial payoffs
to farmers and consumers.
This
was the major finding of Dr. Chito M. Yorobe, Jr., Associate
Professor at the College of Economics and Management, University
of the Philippines Los Baños in his study "Cost
and benefits of papaya ringspot virus (PRSV) technology in
the Philippines".
In
a seminar hosted by the SEAMEO-SEARCA last 17 April, Yorobe
reported the following significant results:
- The
estimated total development and regulatory costs are small
compared to the potential benefits that may accrue from
technology adoption.
-
The net benefits to society of adopting the technology amounts
to P339.1 million with an internal rate of return (IRR)
of 53%.
Yorobe
stressed that the IRR level is a very good incentive to finally
commercialize the technology. He further emphasized that delaying
the commercialization of the technology may result in substantial
welfare losses among producers and consumers. (Mercedita P.
Sisteberio, S&T Media Service)
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