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371385

Economics of Producing Medicinal and Aromatic Plants

Article

Last updated: 29 Dec 2024

Subjects

-

Tags

Agricultural Economics and Management

Abstract

       Medicinal and aromatic plants (MAPs) are a significant focus in various industries due to their products. They are utilized in pharmaceuticals, health care items, cosmetics, and organic food. MAPs are gaining global recognition, with many pharmaceutical companies filing patents on these plants and their derivatives. Approximately 40% of newly approved drugs in the last two decades are derived from natural sources. The economic value of medicinal plants is influenced by numerous socio-economic factors, both locally and internationally. China leads in MAP exports with a 1.48% share, while India is the second- largest exporter with an 8.75% share in the Asian market. Despite the significant economic potential of MAP cultivation, it faces challenges such as lower prices, lack of transit markets, underdeveloped cultivation technology, and limited availability of resources and genetic materials. Therefore, governments should support the cultivation of MAPs.

DOI

10.21608/ijmae.2024.297527.1026

Keywords

Medical and aromatic plants, MAPs, economics, Human health, Medical and Aesthetics potential, economic parameters

Authors

First Name

Adnan

Last Name

Kazem

MiddleName

-

Affiliation

Doctoral Researcher in Agricultural Sciences - Al-Qasim Green University, Iraq

Email

badawiismail68@gmail.com

City

Egypt

Orcid

0000-0001-9671-8954

Volume

4

Article Issue

1

Related Issue

49520

Issue Date

2024-06-01

Receive Date

2024-06-13

Publish Date

2024-06-01

Page Start

50

Page End

60

Print ISSN

2974-4407

Online ISSN

2974-4415

Link

https://ijmae.journals.ekb.eg/article_371385.html

Detail API

https://ijmae.journals.ekb.eg/service?article_code=371385

Order

371,385

Type

Original Article

Type Code

2,762

Publication Type

Journal

Publication Title

International Journal of Modern Agriculture and Environment

Publication Link

https://ijmae.journals.ekb.eg/

MainTitle

Economics of Producing Medicinal and Aromatic Plants

Details

Type

Article

Created At

18 Dec 2024