Costs and Returns of Seabass Cage Culture: A Case Study of the Seabass Community Enterprise Group in Ban Ao Manao, Narathiwat Province

Abstract

The objective of this study was to analyze the costs and returns of the seabass cage culture among members of the Seabass Community Enterprise Group in Ban Ao Manao, Narathiwat Province. There were eighteen participants in the study. The participants were members of a community enterprise. Data were gathered through in-depth interviews and observational techniques. The study found that the initial investment in seabass cage culture averaged was 21,229.44 baht per person, or 5,703.43 baht per person. The average cost was 14,041.01 baht per cage, consisting of variable costs 13,059.52 baht per cage (93.01%) and fixed costs 981.49 baht per cage (6.99%). A return of 17,564.63 baht per cage, a net profit of 3,523.62 baht per cage, which corresponds to a net profit margin of 20.06% and a return on investment of 18.78%. The analysis revealed that the cost of raising seabass in cages calculated by farmers using traditional methods was lower than the cost calculated according to accounting principles. This resulted in farmers perceiving returns, such as net profit and net profit margin, to be exponentially higher than the returns according to accounting principles. However, the analysis of the return on investment indicated that seabass in cages culture is a viable occupation with great potential that can generate significant income for farmers and offers a worthwhile return on investment.