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International Journal of Aquaculture, 2013, Vol.3, No.26, 152
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157
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Table 3 Benefit and cost of sea cucumber cultured in 0.5
-
ha pond
Pond1
Construction phase Year1
Year2
Year3
Year4
Year5
Year6
-
Year10
Cost
Capital and infrastructure cos
ts
Construction cost
57000
0
0
0
3500
0
3500
Shelter
46620
0
0
0
0
0
0
Vehicle
10000
0
0
0
0
0
0
Operational costs
Electricity
10000
10000
10000
10000
10000
10000
Equipment
800
800
800
800
800
800
Maintenance
200
200
200
200
200
200
Salaries
12000
12000
12000
12000
12000
12000
Chemical/cleaning products
6000
6000
6000
6000
6000
6000
Stock purchase
53000
43200
34000
57298
67012
67012
Water quality, fish health assessment
6000
6000
6000
6000
6000
6000
Income
Net fish sales (US$)
0
110000 438000 368000 417500 266700
Average weight of sea cucumber sold
120
120
120
120
120
120
Total production
0
2000
6000
4000
4000
4000
Biological variables
Mortality
0.74
0.74
0.74
0.74
0.74
0.74
Weight gain
0
100
50
-
118 50
-
118 50
-
118 50
-
118
Table 4 Benefit and cost of sea cucumber cultured in 1.2
-
ha pond
Pond 2
Construction phase Year1
Year2
Year3
Year4
Year5
Year6-Year10
Cost
Capital and infrastructure costs
Construction cost
68000
0
0
0
9000
0
9000
Shelter
59940
0
0
0
0
0
0
Vehicle
10000
0
0
0
0
0
0
Operational costs
Electricity
10000
10000
10000
10000
10000
10000
Equipment
800
800
800
800
800
800
Maintenance
200
200
200
200
200
200
Salaries
24000
24000
24000
24000
24000
24000
Chemical/cleaning products
10000
10000
10000
10000
10000
10000
Stock purchase
168000 40000
114958 141722 165747
165747
Water quality, fish health assessment
10000
10000
10000
10000
10000
10000
Income
Net fish sales (US$)
0
116000 771000 575000 652343.75 652343.75
Average weight of sea cucumber sold
120
120
120
120
120
120
Total production
0
2000
10500
6250
6250
6250
Biological variables
Mortality
0.80
0.80
0.80
0.80
0.80
0.80
Weight gain
0
100
50
-
118 50
-
118 50
-
118
50
-
118
2.3 IRR, NPV, and payback period
IRR, NPV and payback period in ten-year period were
shown in Table 6. Net present value of the sea
cucumber ponds increased with the increasing pond
size, obviously higher than that in the other industries.
However, the internal return rate dropped at the pond
size of 1.20 ha. The payback periods of three ponds
were all less than 4 years (Table 5).