Comparative Economics of Four Aquaculture Species Under Monoculture and Polyculture Production in Guam

Financial analysis, which included breakeven, net present value, internal rate of return, present value index, payback period and financial ratios, was carried out on data from three aquaculture farms located on Guam. The analysis included four primary species, Macrobrachium rosenbergii, Chanos chanos, Clarias batrachus , and a hybrid Oreochromis mossambicus × O . niloticus , and two culture methods, monoculture and polyculture. Asian catfish, Clorias batrachus , monoculture showed the greatest capital return. The use of NPV, PVI, IRR, and payback period as decision criteria also resulted in the selection of Asian catfish monoculture from the alternative species and culture methods considered. Tilapia polyculture had the lowest return on investment (less than 1%) and required 92% of the total production to reach the breakeven point. The application of the analysis methods presented provide a means for management to reduce financial risks and make informed choices between alternative strategies.