| An economic evaluation of two Australian Centre for International Agricultural Research (ACIAR) projects in the area of postharvest technology for tropical fruits was undertaken. This evaluation considered a 30 year time period from the first year of investment and assumed a discount rate of 5 per cent. The estimate of the net present value of the research and development investment was $93 million expressed in 1996/97 terms. The benefit–cost ratio was 38:1 and the internal rate of return estimated at 64 per cent. If benefits realised by 1996/97 were considered, the net present value was $30 million, the benefit–cost ratio was 13:1, and the internal rate of return was 63 per cent. Benefits accrued to both Thailand and Australia, with the proportion of... |
