Economics of Thyme Production Under Plastic Houses in Jordan

1Faculty of Planning and Management, Albaqa Applied University, P.O. Box 1381, Amman 11953, Jordan
2Faculty of Agriculture, Jordan University of Science & Technology, P.O. Box 3030, Irbid 22110, Jordan


AL-BAQAIN, R. and R. NASR, 2004. Economics of Thyme production under plastic houses in Jordan. Bulg. J. Agric. Sci., 10: 691-697

Thyme is known in the Mediterranean region for thousands of years. Thyme production was native to southern Europe and the Mediterranean region, now found throughout North African countries like Algeria and Tunisia, and countries like Turkey, Israel, the USA, Russia, China and central Europe. Jordanians are consuming increasing amounts of Thyme; the figures show that the imported quantities have increased over time. The total imported quantities from Thyme have doubled over the years. Thyme is considered as one of the most used herbs as in Jordan. Its prevailing production system is under plastic houses. Gross Margin, Benefit-Cost Ratio and Internal Rate of Return analyses were used to measure the feasibility and profitability of Thyme production. Results show a 0.77 value of Internal Rate of Return for Thyme production under plastic houses. A 0.77 is fairly high value and it indicates a profitable investment. The economic viability demonstrates that efforts should be undertaken to disseminate Thyme production under plastic houses in Jordan.

Key words: Thyme , cost, return, IRR, Benefit-Cost Ratio, Gross Margin
Abbreviations: B/C: Benefit-Cost Ratio; IRR: Internal Rate of Return; i: Interest (discount) rate; JD: Jordanian dinner; $: USA dollar ($ 1.00 = JD 0.71)