Feasibility of

Seaweed is a major source of foreign exchange and a leading export commodity in the fisheries sector. Seaweed farming offers many advantages, it also involves high risks. Study aims to analyze the feasibility of farming green and red varieties of Kappaphycus alvarezii, both from financial and nonfinancial perspectives. Research was conducted in Kawite Wite Village, Kabawo District, Muna Regency, Southeast Sulawesi Province. Nonfinancial analysis employed descriptive methods, while the financial feasibility was assessed using investment criteria, NPV, Net B/C, IRR and PP. Results of the nonfinancial feasibility analysis indicate that nearly all treatments in the seaweed farming business are considered feasible to implement. In the financial analysis, G50 treatment cultivation of the green variety of K. alvarezii at a distance of 50 m from the coastline was found to be financially feasible. However, R50 treatment cultivation of the red variety at the same distance was deemed not feasible. Both G75 treatment (green variety at 75 m) and R75 treatment (red variety at 75 m) were found to be financially feasible. Likewise, G100 treatment (green variety at 100 m) and R100 treatment (red variety at 100 m) were also considered feasible. Among all treatments, G100 demonstrated the best performance.