Financial Feasibility Analysis of Vannamei Shrimp (Litopenaeus vannamei) Farming in Mesjid Raya District, Aceh Besar Regency, Indonesia

Abstract

Vannamei shrimp (Litopenaeus vannamei) is one of Indonesia's leading aquaculture commodities, by which high economic value and significant export potential are held. This study was aimed, so that the financial feasibility of vannamei shrimp farming in Mesjid Raya District, Aceh Besar Regency, was analyzed. The research was conducted from December 2025 to May 2026 using observation and structured interviews with 37 shrimp farmers who were selected through purposive sampling and surveyed using a census approach. Primary data were collected through questionnaires and field observations, whereas secondary data were obtained from relevant literature and institutional reports. Financial feasibility was analyzed using short-term indicators, including investment, production costs, revenue, profit, and the Revenue Cost Ratio (R/C), as well as long-term indicators that are consisted of Net Present Value (NPV), Net Benefit Cost Ratio (Net B/C), Internal Rate of Return (IRR), and Payback Period (PP). It was shown by the results that the average R/C values ranged from 1.46 to 2.81, by which it is indicated that revenues exceeding production costs were generated by all farming enterprises. Positive NPV values ranging from IDR 30,790,484.79 to IDR 2,889,612,837.71, Net B/C values between 2.07 and 3.12, IRR values ranging from 39% to 68%, and Payback Periods between 1.5 and 2.6 years were revealed by the long-term financial analysis. It is indicated by these findings that vannamei shrimp farming in all study villages is financially feasible and profitable, with the highest investment, revenue, profit, and long-term financial performance being shown by Lamreh Village.