Abstract:
There has been a drastic increase in the illegal hunting of rhino for their horns, due to a horn trade ban implemented by the Convention on International Trade in Endangered Species (CITES). By banning the trade in rhino horn, the risk of getting the horn illegally amplifies, which directly increases the cost of trading with the horn on the black market. Until very recently, rhino farming was seen as an economical venture to provide the growing trophy-hunting industry. However, since the drastic increase in the poaching of the species, rhino farming no longer makes economic sense due to the increased risk. By improving the economical feasibility of the commercial farming of the species, it will possibly aid in the rhino regaining its economical value and lead to better conservation efforts. The purpose of this feasibility study is to formulate an optimal strategic production plan for an intensive white rhino farm that investigates the financial viability of intensive commercial white rhino farming in South Africa, using a dynamic recursive mathematical model. Employing the dynamic recursive model over a ten year period, suggests that intensive white rhino farming is financially feasible.
