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Pig farmers earnings

Writer
Ward Peeters
Date
2017-11-20
Views
14938
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Dear KOSIS,

For school i am working on a project of South-Korean intensive livestock farmers, specially the pig farming sector. There for i am trying to find out what the income would be for a farmer in the sector. 

If i look at your statistics of the 2016 Livestock Production Cost Survey. Is says that the NET profit per hog per head is 82,000 WON. I also see that there are alot of farms in South-Korea with 1000  pigs.  Do this mean they earn a profit of 1000 x 82,000 = 82,000,000 per year? 
And if they have 5,000 pigs that they earn 5,000 x 82,000 = 410.000.000 per year?

I think these results are very high and this means they earn high profits. Thats why i started wondering how the Net profit per pig is calculated. 

Do you have any specification on how the NET profit is calculated?
If you have more information about this subject which might be usefull, that would be highly appreciated.

Thanks in advance and kind regards,

Ward Peeters
Student Fontys International Business School, Venlo, The Netherlands 
Statistics Korea 2017-12-05
Dear Ward Peeters.

Thank you for visiting the KOSIS website.

○ As you see, the net profit of hogs recorded 82,000 won per head in 2016. The net profit per hog is calculated as the difference between gross receipts and the cost incurred in the process of purchasing / acquiring a baby hog and selling it after a certain period of time. And according to Livestock Statistics in the third quarter 2017, on average, 2,372 pigs are raised by a hog-breeding household. 

 ※ Net profit per hog = Gross receipts – Breeding cost

  - Gross receipts: Total amounts of receipts of main products by selling a hog after breeding it for a certain period of time and receipts of by-products
  - Breeding cost: Total cost value of goods and services consumed when breeding a hog

Thank you.

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