Because biodiversity conservation is a crucial aspect of multifunctionality in agriculture, consumers may be willing to pay a higher premium for products with environmentally friendly farming techniques to preserve biodiversity. To analyze the effects of biodiversity on the market price of agricultural products, this study applied the choice experiment method to assess consumers' preferences for environmentally certified rice (termed "crane-friendly farming") proposed for growth in Tram Chim National Park, one of Vietnam's eight important bird areas. Our results indicate that the majority of Vietnamese Mekong Delta consumers agreed to buy the proposed environmentally certified rice. They were willing to pay a premium of VND 11 for one kilogram of environmentally certified rice to increase crane numbers and VND 1500 for a 100% increase in the biodiversity level. In addition, their implicit price for rice cultivation without chemical pesticides (organic rice) was VND 6200, a 62% premium over the price of normal rice.
All Science Journal Classification (ASJC) codes
- Nature and Landscape Conservation