CONFID LAUAL ##

(b)

ss of recurrent investment and net income

(i) Polyculture

2

Rate in $ per m2 of pond area

Fishpond on Crown land or private land on 1-year lease

lease or more

To be fixed on the date of clearance

Attachment IV

-

(Cont'd)

1st quarter April June

2nd quarter July

3rd quarter

September

October December

4th quarter January

March

2.6

3.55

4.50

5.45

Fishpond on private land on 2-year lease

3.8

4.75

5.70

6.60

Fishpond on private land on 3-year

5.00

5.90

6.85

7.80

(ii) Monoculture

1/

Period between stocking and clearance date

Rate in $ per m2 of pond area

Type of culture

1-3 months 4-6 months | 7-9 months over 9 months

Fishpond on Crown land or private land on 1-year lease

Snakehead

6.60

9.40

12.25

4.05

Catfish

6.65

7.95

9.25

4.35

Fishpond on private land on 2-year lease

Snakehead

9.90

12.75

15.55

7.35

Catfish

10.20

11.50

12.80

7.90

Fishpond on private land on 3-year lease

Snakehead

13.20

16.05

18.90

10.70

Catfish

13.70

15.00

16.30

11.40

1/ In view of the fact that apart from snakehead or catfish, other monoculture (mainly tilapia/common carp) has

similar economic profile to polyculture, other monoculture could be assessed according to the polyculture rates in (b)(i) above.

CONFIDENTIAL V

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