187
financial return.
Using costs and prices as at November, 1978, the following results are obtained:
Income
Shrimps $HK41,700
Crabs 4,500
Freshwater fish 25,250
Marine fish 24,750
Total income 96,200
(NB. Because of concern over population by heavy metals, oysters from the region of Hau Hoi Wan were almost unsaleable at this time).
Expenses
Rent (per annum) $HK11,000
Fish harvests 600
Ice 90
Transportation 1,800
Other, including fuel 300
Total expenses 13,790
Gross profit $82,410
At this time the exchange rate was HK$4.80 = US$1, and the Hang Seng Consumer Price Index for December 1978 was 126 for all items, and 122 for foodstuffs; the baseline of 100 referred to July 1973 to June 1974 (Anon, 1979).
Thus, operation of a single kei wai yielded a gross income of about $6,800 per month which appeared to be a satisfactory income. However, our year of study was likely to show an unusually high income because it was the last year of the current 7-year lease whereas returns related to the current period. We were informed that the rental would be raised to about $31,000, which would make operation of the kei wai a much less rewarding occupation.