FINANCIAL FEASIBILITY OF KONJAC (Amorphophallus muelleri Blume) PRODUCTION IN MALAYSIA USING SEED AND MOTHER CORMS OF DIFFERENT SIZES

Konjac (Amorphophallus muelleri Blume) is a high-value industrial crop with growing global demand. Although it has become an export-oriented crop in the region, Malaysian production remains limited; thus, evidence on financial feasibility under local conditions is needed. The financial performance of three konjac production systems (seed-based, small, and big mother corm) was assessed using enterprise budgeting, sensitivity analysis, and partial budgeting. Pre-commercial, single-production-cycle field trials at Universiti Putra Malaysia provided yield and cost data. Enterprise budgets were prepared on a per-hectare, per-cycle basis, and a sensitivity analysis was used to assess robustness to 10%–30% reductions in farm-gate prices and increases in operating costs. Partial budgeting was applied to estimate the change in net profit when planting material was upgraded from small to big. Big mother corm achieved the highest yield and revenue (RM172,985/ha/cycle), while seed-based production recorded the lowest yield and revenue (RM75,183/ha/ cycle). Profitability Index (PI) was highest for big mother corms (PI = 2.87), followed by small mother corms (PI = 2.80), and was lowest for seed (PI = 1.26). The seed-based enterprise showed the greatest vulnerability to market stress, with a 30% price reduction reducing PI to 0.89 (loss), whereas the big-corm enterprise remained profitable. Upgrading from small to big mother corms increased profit by RM24,580/ha/cycle. Corm-based production offered higher profitability and greater resilience than seed-based production, with large mother corms providing the best balance of yield, cost efficiency, and net returns for konjac cultivation