FINANCIAL FEASIBILITY AND SOCIAL RETURN ON INVESTMENT OF BIOSURFACTANT PRODUCTION FROM PINEAPPLE WASTE: A CASE STUDY IN CHONBURI PROVINCE
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Abstract
This research aimed to examine the situation of pineapple agricultural waste in Chonburi Province, analyze its financial feasibility, and assess the Social Return on Investment (SROI) of converting pineapple waste into biosurfactants. A mixed-methods research design combining qualitative and quantitative approaches was employed. Data were collected through purposive sampling of nine key informants for in-depth interviews, representing three stakeholder groups: growers, collectors and promoters, and industrial end-users of biosurfactants. The findings revealed that Chonburi Province generates 400–500 tons of substandard pineapples per season, equivalent to 1.0-1.3% of total production. Most of this waste lacks high-value processing pathways and integration into the biochemical industry supply chain. Financial feasibility analysis showed that industrial-scale production with a capacity of 18,000 kg/year, with a total investment of 525.6 million baht, yielded the highest economic viability, with a Net Present Value (NPV) of 186.7 million baht, an Internal Rate of Return (IRR) of 15.8%, a payback period of 5.6 years, and a Profitability Index (PI) of 1.35. The SROI analysis, conducted according to the international standard of Social Value International, yielded a ratio of 1.07, indicating that the project generates sufficient social value to warranting government policy support. The project created a total social value of 98.9 million baht per year, of which 85.2% was attributable to the substitution of synthetic surfactants.
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