222 I output transfer; J input transfer; K factor transfer; and L net transfer.
Here are the identities and ratios of PAM analysis [5]: Private profitability
[
= − + ] is a measure of competitiveness of
the agricultural business system at certain technologies, output prices, input costs, and applied policies. Social profitability [
= − +
] is a measure of efficiency or comparative advantages in prices that reflect
scarcity values or social opportunity costs efficiency price. Thus if D and H0, then the pangasius fish farming business is profitable in private and
social prices respectively. Private cost ratio [
= − ] and
domestic resource cost ratio [ = − ] are used to compare the
competitiveness and comparativeness of other agricultural systems that produce unlike outputs respectively. Private cost ratio and domestic
resource cost ratio show how much the system can afford to pay domestic factors and still remain competitive in its private and social prices
respectively. Thus if PCR and DRC is less than 1, then the pangasius fish farming business has competitive and comparative advantages respectively.
Nominal protection coefficient on outputs [
= ] and inputs [
= ] can be used to compare the output and input protection of other agricultural system respectively. Thus, if NPCO1 and NPCO1 then
the output and input in the pangasius fish farming business receiving protection.
2.4. Input and output social price determination Output
. Social price of fresh pangasius fish is approximated from the FOB price of frozen pangasius fish fillets from Vietnam to US. Tradable input.
Social prices of pangasius fish fingerlings; rice bran; dried salted fish; vitamin and mineral; and dolomite are estimated from their actual market
prices subtracted by their policy or regulation which is attached to them such as value added tax. This can be performed because they are produced
locally in the vicinity area and traded in a perfect competitive market. The social price of fuel is estimated from its economical prices released by the
Ministry of Energy and Mineral Resources of Republic Indonesia. The social price of urea and salt are estimated from their FOB and CIF price
respectively. Non-tradable input. Social price of land, capital and labor are predicted through the observations on their rural factor markets. Capital
includes the feed pellet machine, feed warehouse, drying floor, and equipment. The value of capital in the private prices was determined from
its depreciation costs. Feed pellet machine was fully subsidized by the government as an act of support from the government. Thus, its private price
was zero and its social prices equaled to its depreciation costs. The social
223 prices of labor could be approached by its opportunity costs. The use of
labor was divided into three types of role, namely fish keeping, feed pelleting, and fish harvesting. The labor is classified as unskilled labor, thus
in the smallholder agriculture, policies on labor were unenforced. Therefore, those could be ignored [6]. Shadow exchange rate. Shadow exchange rate
SER is given as
= where official exchange rate OER
and SER are in IDRUSD [7]. Standard conversion factor SCF is given as =
+ [ + � +
− � ] where M, X, Tm and Tx total imports, total exports, import taxes and export taxes respectively are in
USD [8]. 2.5. Sensitivity analysis
The sensitivity analysis was performed to measure the responsiveness of the PCR and DRC due to the changes of key parameters. The key parameters
were the pangasius fish fillet FOB price, alternative feed price, and exchange rate. The changes of PCR and DRC in sensitivity analysis were
measured by comparing the percentage change of PCR and DRC if the key parameters were increased by 1.
3. Results and Discussion
Pangasius fish grow-out in KoGa was conducted in earthen pond. Pangasius fish needs 6 month to reach its marketable size of 2-3 fishkg. Survival rate
in average was 90 which is yielding 36,000 kg pangasius fish per ha per cycle. Sold at 15,000.00 IDRkg, farmers can gain revenue as much as
540,000,000.00 IDRhacycle. Total cost in this business was 312,188,000.00 IDRhacycle.
Table 2. Policy analysis matrix analysis IDR per ha per cycle
Revenues Costs of
tradable inputs Costs of
domestic factors Profit
Private prices 540,000,000
249,996,000 40,442,060
249,561,940 Social prices
416,596,631 251,971,417
41,542,060 123,083,154
Divergences 123,403,369
-1,975,417 -1,100,000
126,478,786
Table 2 shows that both private and social prices generated positive profits D and H 0 which means it is profitable in its social and private prices.
PCR value is 0.14 PCR1 and DRC value is 0.25 DRC1 which means in order to get value added as much as one unit, it is required additional
domestic factor cost as much as 0.14 units and 0.25 units in its private and social prices respectively. It indicates that the pangasius fish grow-out
business in KoGa has strong competitive and comparative advantages.
