Cost‐benefit analysis of shrimp farming's flood risk reduction strategies in Thailand: Fid-Bau Portal

Cost‐benefit analysis of shrimp farming's flood risk reduction strategies in Thailand

Seekao, C. / Pharino, C.

Chachoengsao province is a prime shrimp producing area for domestic consumption and exports. The province, however, is often threatened by floods. Improving the effectiveness of current flood damage protection is a major challenge. This research developed a flood risk map by combining the probability of flood events and a vulnerability map based on physical characteristics of the area and socio‐economic conditions of shrimp farmers (victims). Analysis of current risk reduction measures was performed by comparing the net benefits and costs of different strategies. Damage costs to shrimp farming from flooding were also estimated for the base case (a case with no change in actions). The flood risk map shows that two‐thirds of shrimp farms are highly vulnerable to flooding when a 10‐day accumulated rainfall is greater than 250 mm which is likely to occur every 2 years. Increasing dike heights could yield higher net benefits than other flood adaptation measures. Non‐structural flood controls such as early harvesting and shifting the crop calendar are alternative measures for shrimp farmers who lack financial supports. The results show that cost‐benefit analysis based on various scenarios can help in selecting an appropriate mitigation practice especially for shrimp farms located in a high risk area.