| dc.description.abstract | The declining of natural rubber prices and the scarcity of tappers were the main problems faced by rubber plantation companies in the last decade. The outbreak of Pestalotiopsis leaf fall makes it difficult to achieve productivity improvements. Cost efficiency efforts are a strategy that must be implemented to maintain the current performance of the rubber plantation companies. Low frequency tapping (LFT) systems are one of the steps taken by PT Perkebunan Nusantara III (Persero) as a barometer for national plantation companies to respond to this situation. The aim of this research is to analyze the performance of the application of the LFT system at PTPN III (Persero), to analyze the financial feasibility of developing a rubber plantation with the application of the tapping system, and to compare its performance with conventional tapping systems. Tanah Raja and Gunung Para were the locations chosen purposively in this study because they were considered as demonstration unit for PTPN III (Persero). The analysis was carried out through a quantitative descriptive method with a partial budget analysis approach in the form of Net Income (NI) Analysis, Revenue and Cost Ratio (R/C ratio) and financial feasibility analysis with four project investment criteria in the form of Net Present Value (NPV), Internal Rate of Return (IRR), Benefit and Cost Ratio (B/ C ratio) and Payback Period (PBP). The results showed that the application of the LFT system was able to maintain the rubber plantation business in a profitable condition. The LFT system was chosen as the best alternative is a LFT system d4 with a ratio of R/C ratio between d3 and d4 was 1.39 and 1.20, respectively. NPV value of IDR 69,14 billion; B/C ratio of 1.61; IRR of 14.23%; and PBP for 12.48 years shows that the development of rubber plantations with the application of the LFT system is feasible. When compared to rubber plantations with the application of a conventional tapping system which has an NPV value of IDR 224,03 billion; B/C ratio of 1.93; IRR of 19,56%; and PBP for 11.12 years, the application of the LFT system d4 is no more attractive. However, in conditions of scarcity of skilled tappers, the financial performance of the conventional tapping system (d3) has decreased significantly where the value of NPV; B/C ratio; IRR; and PBP respectively to Rp 89.64 billion; 1.69; 14.90%; and 12.79 years, which means that it was only slightly above the financial performance of the LFT tapping system (d4). The implementation of the LFT system is more appropriate for plantation locations that face problems with limitations or scarcity of tappers. | en_US |
