Study on regional production and economy of cobia <Emphasis Type="Italic">Rachycentron canadum</Emphasis> commercial cage culture

In recent years, cobia has become an emerging farmed species in Asia due to its quick growth and high economic value. This study collects biological and economic data affecting the economic performance of cobia farming in three countries, namely Taiwan, China, and Vietnam. The data are collected by questionnaire sampling and analyzed by multivariate statistical analysis in order to compare the key factors affecting the production and economy of cobia farming in these three countries. The results show that Taiwan, China, and Vietnam have significant differences in input intensities and profitability. China has the highest input intensity (3372.42 TWD/m³), as its high stocking density increases feed input. Taiwan has the highest unit input cost (103.44 TWD/kg), as the high quality of the product increases the price of cobia in Taiwan, which offsets the high product costs. In terms of profitability, the benefit–cost ratio is over one in all three countries, indicating that the profitability of cobia farming is good in all three countries. Profitability analysis shows that fingerlings in China achieve 36.50, which is the highest among the three countries; whereas Taiwan has the highest feed profitability of 0.78, which reveals that the fingerlings produced in China are competitive in both price and quality, while Taiwan has the best feed management efficiency. The production costs and profitability of Vietnam fall between those of Taiwan and China. Feed cost is the main expenditure in cobia culture; thus, good feed management could effectively reduce production costs and increase business performance. The feed quality and input management model of Taiwan, in conjunction with the fingerling quality and stock model of China, could provide future reference for farming management in such areas as feed input and selection of fingerling.