From 5 to more than 30 cages, on-growing farms show a great diversity. The lack of records, and rather short period of activity do not yet allow for accurate calculations. But this production should be carefully studied as it is among the activities likely to offer possibilities for local initiatives to provide investment and employment opportunities. Presently, the uncertainty about fry supply severely hinders the economic viability of such farms. The following figures, computed from personal observations and figures by the Agricultural Bank of Greece, represent a “normal” situation for a 10-cage (6 × 6 m) farm, producing 18 t of sea bass and/or sea bream and selling at an average price of Dr 1 500/kg. Farmers reported that despite the higher price of sea bream, high mortality and especially diseases make it more profitable to produce than sea bass.
Investment Cost (1986)1
| Cost (Dr '000) | Duration (years) | Depreciation (Dr '000) | |
Buildings | 1 000 | 20 | 50 |
Cages | 10 000 | 6 | 1 600 |
Boat (outboard motor) | 600 | 10 | 60 |
Vehicle | 1 000 | 10 | 100 |
Others (small equipment) | 700 | 7 | 100 |
Total | 13 300 | 1 910 |
Profit and Loss Account
| Dr '000 | % of total cost/kg | |
Sales (18 t, Dr 1 500/kg) | 27 000 | |
Expenditure | ||
- labour | 2 500 | 10 |
- fry | 10 000 | 40 |
- feed | 8 000 | 32 |
- others | 1 000 | 4 |
Total expenditure | 21 000 | |
Interest on loans | 1 500 | 6 |
Profit before depreciation | 4 500 | |
Depreciation | 1 910 | 8 |
Profit before taxes | 2 590 |
