ECONOMIC TOPIC Part 2 Describe an economic risk You have to answer: What it look like Where it took place when it took place and explain your opinion of it

It was an economic risk due to an unsuccessful introduction of a new plant took place in Dak Lak province that caused an agricultural crisis in the local region. During a period between 2010 and 2015, the local governments in Central Highlands, particularly in Dak Lak province, launched forest farming policies relating to improving biodiversity of crops in the region, in which encouraged farmers improve household likelihoods by adapting imported varieties as alternative options for traditionally industrial crops like coffee, pepper, cashews in their farms. Among imported

species

,

maccadania

landlocked republic on the Balkan Peninsula; achieved independence from Yugoslavia in 1991

Macedonia

that is

an industrial plant originated in Australia has been selected almost villagers because of its high economic value.

Initially

, it happened to many families living in the rural areas of Dak Lak provinces as they decided to grow a huge area of plantation of

maccadania

landlocked republic on the Balkan Peninsula; achieved independence from Yugoslavia in 1991

Macedonia

instead

of developing traditional industrial crops like coffee and pepper or cashews. Because they said that the prices of these agricultural products is a significant drop and the farmers realized that there was a need to replace another

species

which offered them better income. So, they decided to clear off available crops at their estate to establish a large area of macadamia plantations without concerning about its probability.

However

, the introduction of

this

new

species

has failed and it impacted significantly on individual incomes as well as the local economy. Generally, I think there were two major reasons why the local authority was unsuccessful in introducing macadamia to farmers.

Firstly

, they did not actually know about the economic risk of taking

this

species

because the market of

this

species

is instable, many farmers were facing

to

being one more than one

two

great challenges in finding its market for their products. That situation made them run into debt and the local government was under fire from the public.

Secondly

, unfavourably ecological conditions in Dak Lak have impacted the production of tree fruit.

Although

,

this

tree still has a good perform in growth and become mature plant, it did not produce many fruit as expected