DEMAND ANALYSIS OF MEDICINAL PLANTS IN HIMACHAL PRADESH BASED ON SELECTED PHARMACEUTICAL UNITS

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2013
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ABSTRACT In the present study entitled “Demand analysis of medicinal plants in Himachal Pradesh based on selected pharmaceutical units”, a sample of 10 pharmaceutical units was selected randomly from the list of 41 pharmacies from Solan district. To analyze the demand of medicinal plants used by the pharmaceutical units 10 important medicinal plants were selected. The raw material purchased by the pharmaceutical units mainly comes from Khari-Bawli market of New Delhi and Majtih Mandi of Amritsar. To have an insight into the exact status of extraction of medicinal plants in the state, the extracted species were classified on the basis of habitat, habit, economic part used and present status. On the basis of habitat, only medicinal plants under cultivation showed a positive and significant growth (29.01%/annum) during P-I i.e., 1994-2003. While, during P-II i.e., from 20032012 upper hill subtropical and cold desert showed significant negative growth of (28.74%/annum) and (24.71%/annum) respectively. The variability also increased from P-I to P-II in all the habitats except in cold desert and temperate zone. The maximum average volume as well as revenue was extracted from the temperate zone (10657.79qtls.) and (Rs 3801816) respectively. During 1994-95 to 2011-12 herbs and trees showed significant declining growth of 7.62 and 18.80 per cent per annum respectively. The entire plant showed a negative and significant growth of 21.4 per cent per annum in P-I and seeds in P-II showed negative and significant growth of (45.00%/annum). But, in overall bark, entire plants and rhizomes showed negative significant growth rates (13.43%/annum), (19.44%/annum) and (10.50%/annum) respectively. On the other hand, Barah flowers showed positive and significant growth of 18.34 per cent per annum. The roots yield maximum average volume and maximum revenue of 11335.31 quintals and Rs.250397.33. respectively. The linear growth of medicinal plants based on their present status indicated that only commonly available medicinal plants showed a significant declining growth rate of 10.67 per cent per annum and 9.26 per cent per annum in P-II and overall respectively. The medicinal plant market in Himachal Pradesh is oligopsonic in nature i.e., a small number of large buyers controlling the buying side results in the dominance of buyers thus making medicinal plants market a buyer’s market and non-price competitive in nature. So, they compete with each other through improved working conditions and merging of two buyer’s results in greater control over the market and cooperation through secret collusion to control prices and exploitation of sellers. The analysis showed that all the medicinal plants showed significantly increasing growth except in case of Bankakdi, Kuth, Kutki and Safed Musli. The variability ranged from 68.01 to 2.06 per cent. The real prices showed similar trend as nominal prices except in Banafsha. The own price elasticity of the medicinal plants showed price inelastic demand that ensures a steady market for them. Most of the species showed normal price-demand behavior except Bankakdi, Kuth and Kutki. The reasons for the positive demand-price relationship were derived demand for medicinal plants and the priority of the pharmacy for the finished products. It has been suggested that medicinal plants like Kutki, Kuth and Bankakdi should be given priority in the light of their positive scarcity ratios.
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