Open AccessEconomic Feasibility of Small‐Scale Sponge Farming in Pohnpei, Federated States of Micronesia 1
Author(s) -
Adams Chuck,
Stevely John M.,
Sweat Don
Publication year - 1995
Publication title -
journal of the world aquaculture society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.655
H-Index - 60
eISSN - 1749-7345
pISSN - 0893-8849
DOI - 10.1111/j.1749-7345.1995.tb00236.x
Subject(s) - sponge , profitability index , biology , investment (military) , agriculture , fishery , scale (ratio) , wage , wage rate , production (economics) , agricultural economics , agricultural science , ecology , economics , labour economics , finance , botany , geography , macroeconomics , cartography , politics , political science , law
Interest exists in the commercial culture of sponges in the Pohnpei region of the Federated States of Micronesia. Sponge culture is appealing in that capital and labor investment is minimal. Investment requirements for a 0.4‐ha sponge farm totals $650. Average annual production costs total $500. The sponge farm yields 2,400 sponges per 0.4 ha annually. Annual net returns are approximately $1,744 per 0.134 ha component, beginning in Year 4. Profitability is most sensitive to changes in opportunity wage rate, survival rate, and market price. Commercial sponge farming in Pohnpei shows promise as a source of supplemental income.