Sustainability and feasibility analysis of the skipjack (Katsuwonus pelamis) fishery in Buhung Pitoe Island, Indonesi

Sustainable management principles are very important, especially when linked to the impact
of unsustainable management, such as overfishing and over capacity. They are a result of the absence of
fishing regulations such as catch limits (quotas), unclear property rights, lack of supervision and a lack of
law enforcement. For this reason, various studies with various approaches need to be carried out,
especially related to sustainability of management and resources. The research objective was to analyze
the level of sustainability and feasibility of the skipjack (Katsuwonus pelamis) fishery business in Buhung
Pitoe Island, Indonesia, from an economic aspect. This research was conducted in Buhung Pitoe Island,
Pulau Sembilan District, Sinjai Regency, South Sulawesi Province, from September to November 2020.
The research method used a survey via interviews. Moreover, the analytical methods used MDS-Rapfish
analysis and financial analysis. The results showed that the level of sustainability of the skipjack fishery
business in Buhung Pitoe Island, was classified as quite sustainable from an economic point of view, with
a sustainability index value of 53.07%. There were five leveraging attributes of skipjack fishery business
sustainability: the level of economic accessibility, the existence of economic institutions, the business
managerial ability, knowledge/skills in business, and business feasibility. The feasibility of the skipjack
fishery business was classified as feasible from a financial perspective, with an Net Present Value (NPV)
value of 1.23 (NPV>0), a Net Benefit-Cost ratio (Net B/C) of 3.79, which was greater than 1, an Internal
Rate Return (IRR) value of 38.81%, which was greater than the Minimum Attractive Rate of Return
(MARR) value (18%); and the payback period occurred in the third year of business with a value of
9361.84 USD.