The kole wetlands, covering an area of 13,632 ha, are a unique rice production ecosystem spread over Thrissur and Malappuram districts of Kerala. They are known for the bumper yields, but are now one of the most threatened wetlands in the State. Development policies so far lack provisions for sustainable agriculture along with ecosystem protection of the wetlands. Primary interests of farmers mostly give way to that of the stronger players who have better access to administrators and policy makers. It is imperative to understand the socio economic preferences of the most direct stakeholders of wetlands, namely the farmers, regarding utilization of their agroecosystem. This study tried to map, cluster and analyse the farmer perspectives through concept mapping. Multidimensional scaling and clustering were used for prioritizing the socio economic concepts. The better income concept, along with heredity – social status concept were found to be the most pronounced. The environmental perspective also stood strong, contrary to what is believed. The study comes up with the policy suggestions to uphold the income motives of the farmers equally with the status motive. Urgent attention should be paid to effective mechanisation, risk alleviating mechanisms, better production technology and climate change mitigating strategies. A holistic approach incorporating production, ecosystem and livelihood concerns should be evolved for sustainable development of the kole wetland ecosystem.