This study examines the cost and benefit (i.e., income) of the Forest Stewardship Council (FSC) rubber plantations in Thailand. The study attempts to identify the challenges to the implementation of FSC standards in rubber plantations in the country. A total of 60 rubber farmers in two Southern provinces, namely, Songkhla and Rayong, were interviewed through a standardized questionnaire to gather primary data. The study found that small-, medium- and large-sized FSC rubber plantations were worth investing in. All sizes of rubber plantations had similar values of benefit cost ratio (BCR). It was also found that the values of the discount payback period (DPP) of the three forms of FSC rubber plantations were 9-12 years, while the large rubber plantations had the highest internal rate of return (IRR) (19.0%). It implies that the large-size plantations had the highest values. The rubber farmers in the study area reported that they are facing a number of problems and hardships in implementing FSC standards, lacking knowledge and understanding of FSC, especially for preparing documentation. Therefore, the Thai government should take proper policy initiatives to remove all the problems and barriers in implementing FSC standards for the sustainable rubber production in the country.

Abstract
1. Introduction
2. Materials and Methods
    2.1. Survey Design and Data Collection
    2.2. Data Analysis
3. Results and Discussions
    3.1. Production Cost and Returns of FSC RubberPlantations
    3.2. Expense for Managing FSC
    3.4. Challenges to Implementation of FSCStandards in Rubber Plantation andRecommendations
4. Conclusion
References

• Chaiya KONGMANEE(Faculty of Economics, Prince of Songkla University (PSU), Hat Yai, Songkhla, Thailand.)
• Ferdoushi AHMED(Faculty of Economics, Prince of Songkla University (PSU), Thailand [) Corresponding Author
• Onanong LONGPICHAI(Faculty of Economics, Prince of Songkla University (PSU), Hat Yai, Songkhla, Thailand.)