@article{Jones:136230,
      recid = {136230},
      author = {Jones, Darren and Solingo, James},
      title = {Economic Review of the Victorian Oilseeds Research  Program},
      address = {1996-12},
      number = {408-2016-25435},
      pages = {14},
      year = {1996},
      abstract = {During the period 1980-94, the area of canola planted in  Victoria expanded from the 2,500 hectares to 74,500  hectares, and by 1994 accounted for over 70 per cent of the  gross value of production of all oilseeds in the state and  80 per cent of the oilseeds research expenditure. Due to  the dominance of Victorian oilseeds production by canola,  the quantitative benefit-cost analysis of the oilseeds  industry was restricted to this commodity. During the  period 1980-94 the yield of canola increased at a mean rate  of 3.3 per cent per annum. Ex post (1980-95) and ex ante  (1995-98) quantitative benefit-cost analyses of the  Victorian canola research program were performed using the  linear programming model PRISM. The benefit-cost ratio for  the ex post evaluation was found to be 1.6 (that is, for  every $1 invested the return was $1.60). This reflects the  establishement phase that the industry under went during  this period, when expenditures were initially high relative  to returns. The ex ante evaluation returned a benefit-cost  ratio of 3.0 due to the increased benefits generated by  higher yields and the larger area of canola grown in the  mid 1990s. The benefit cost ratio for the entire program  (1980-98) was predicted to rise to 1.9 by 1998.},
      url = {http://ageconsearch.umn.edu/record/136230},
      doi = {https://doi.org/10.22004/ag.econ.136230},
}