Economic analysis of tiger grouper <Emphasis Type="Italic">Epinephelus fuscoguttatus</Emphasis> and humpback grouper <Emphasis Type="Italic">Cromileptes altivelis</Emphasis> commercial cage culture in Indonesia |
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| Authors: | Farok Afero Sha Miao Arlenie A Perez |
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| Institution: | (1) Department of Aquaculture, National Taiwan Ocean University, Keelung, Taiwan, R.O.C |
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| Abstract: | This study presents an economic analysis of tiger and humpback grouper at different production scales in Indonesia. The results
highlight the non-viability of small-scale tiger grouper farming, with a 5-year projected negative cumulative cash flow of
−IDR 18,102,650.00 and a negative net present value (NPV) of −IDR 22,059,576.28. An increased production scale of tiger grouper
highlights a marginal viability for medium-scale farms (with a 5-year projected cumulative cash flow of IDR 198,320,673.00,
a positive NPV of IDR 105,578,440.42; a benefit cost ratio of 1.25; an internal rate of return (IRR) of 88% and a payback
period of 0.99 years), and an economically viable large-scale cage culture (with a 5-year projected cumulative cash of IDR
707,746,923.00; a NPV of IDR 406,801,749.07; a benefit cost ratio of 1.33; an internal rate of return of 157%; and a payback
period of 0.57 years). The economic analysis of humpback grouper at different production scales highlighted a positive cumulative
cash and NPV, a benefit cost ratio over 2, an internal rate of return over 300% and a payback period <1 year. A sensitivity
analysis revealed that increased survival rate up to 80% would increase cumulative cash and NPV of small-scale tiger grouper
cage culture. Additionally, improved profitability performance was associated with decreasing major production costs, increasing
production and price of the product. |
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