OPEN ACCESS plSSN : 0374-8111 | elSSN : 2287-8815
OPEN ACCESS plSSN : 0374-8111elSSN : 2287-8815
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kfas, vol. 55, no. 5, pp.681-687, October, 2022

An Economic Analysis of the Extruded Pellets on the Olive Flounder
Paralichthys olivaceus Farms in the Jeju Region

국립수산과학원 양식연구과, 1군산대학교 해양생명과학과, 2국립수산과학원 사료연구센터, 3부경대학교 해양수산경영학과


    The government has implemented a policy to promote the use of extruded pellets in sustainable aquaculture by protecting fishery resources and managing the ocean environment. A survey on the production status and the cost of targeting olive flounder Paralichthys olivaceus culture farms in Jeju Island using extruded pellets was conducted. The survey results were used to examine the profitability and economic feasibility of the test farms, as well as the degree of increase in profitability and economic feasibility of the fish farms receiving government subsidies for employing extruded pellets. The economic feasibility was predicted through a sensitivity analysis of prices and production, which are the variable factors when of using the extruded pellets. Using the economic feasibility analysis, the average NPV (Net Present Value) and IRR (Internal Rate of Return) of sample farms were found to be KRW 5.8 billion and 8.9%, respectively. The result of the economic feasibility analysis of the government subsidy showed a maximum average of about 2.3 times higher NPV and a 3.8% increase in IRR in cases where government subsidies were received.

  • Keyword

    Olive flounder, Extruded pellet, Economic analysis, Sensitivity analysis