Financial analysis of catfish cultivation feeding with black soldier fly (maggot) at fish-farmers’ group TPS3R Kayumanis, Bogor, West Java, Indonesia

The demand for fresh catfish in Bogor Regency is very high, causing catfish farmers to take this business opportunity to produce more catfish. Feed contributes about 60% of operational cost, therefore to reduce the production cost, the farmer uses black soldier fly (maggot) as a supplementary feed for their catfish cultured. This research aims to analyze the business of catfish cultivation using maggot at fish-farmers group TPS3R Kayumanis in Bogor, West Java, Indonesia. The research was conducted from March to April 2021 using observation, interviews, and documentation. The business feasibility of catfish cultivation was done by calculating the revenue cost ratio (R/C), breakeven point (BEP), and return on investment (ROI). The result showed R/C ratio was 1.4; BEP was 361,437 IDR, and ROI was 8.6%. These results indicated that catfish cultivation using maggot as supplementary feed is a feasible catfish business