Cost-Benefit Analysis of the Cage Culture of Sea Bass: Case Study of Koh Yo, Mueang Songkhla District, Songkhla Province
Keywords:
Cost and return, Net Present Value, Internal Rate of Return, Benefit/Cost Ratio, Sensitivity analysis, Switching value testAbstract
This research investigated of Cost-Benefit Analysis of the Cage Culture of Sea Bass : Case Study of Koh Yo, Mueang Songkhla District, Songkhla Province and the value of investment. The data for this study will be collected by questionnaires from 45 Farmers and in – depth interview. The data were then analyzed by using statistic description and quantity of cost and Benefit. The study result found that the revenue of Sea bass per cage 137,600 baht. There was average cost 88,090.61 baht consists of variable cost 85,923.95 baht accounted for 97.54 percent and fixed cost 2,166.66 baht accounted for 2.46 percent. Therefore, it has an operating profit of 49,509.39 baht per cage or has a return on cost of 56.20 percent. The results of financial analysis of the investment in sea bass culture in cages using a discount rate of 7 percent and 8 years project, it was found that it was worthwhile to invest. It had net present value at 582,121.30 baht, internal rate of return at 61 percentages, benefit/cost ratio at 1.87. Sensitivity analysis of this project found all 3 cases worthwhile to invest. The main factor that had and effect of the investment was the changing in revenue. In case of switching value test, it was found in a high level which make the investment low risk.
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