The Process of Changing Traditional Knowledge into Value for Money: Palmyra Sugar Cake from Borassus Flabellifer in Phetchaburi

Abstract

The objective of the research was to study the production process with regard to Palmyra sugar cake, which uses the traditional knowledge of local people, to determine and assess the monetary value of producers who use ancient techniques. A purposive sample of 21 producers was studied; financial analysis method was used to assess the monetary value. The research showed that Palmyra sugar cake is a cultural product in Phetchaburi. Initially, palm sugar cake was produced for subsistence reasons and, when demand grew, it became a commercial product. The community produces all materials in the production process. The expenditure for each step demonstrated that total cost (TC) was 254,213 Baht, broken into 144,928 and 109,285 Baht for fixed and variable costs, respectively. The revenue was 2,875,298 Baht, which showed a profit of 2,776,397 Baht. In terms of monetary value, the Net Present Value (NPV) was 1,148,959 Baht with an 8 % discount rate, Internal Rate of Return (IRR) was 28 % and the Benefit and Cost Ration (B/C) was 11.30. Thus, this shows that traditional knowledge generates revenue. The transfer of knowledge and conservation techniques of Palmyra trees need to be further promoted in order to maintain local wisdom and lifestyle.