What are the prospects for black bream Acanthopagrus butcheri (Munro) aquaculture in salt‐affected inland Australia?

Black bream are a highly regarded sport and table fish, and there has been considerable interest in their aquaculture potential for the salt‐affected agricultural regions of inland southern Australia. In many ways they are an ideal candidate species for inland saline aquaculture because they appear to be very hardy, hatchery techniques are well established for them, and high survival rates have been maintained under a variety of culture conditions and feeding regimes. However, their slow growth rate needs to be increased by at least 33% for black bream to become an economically viable aquaculture species. Growth is amenable to genetic improvement, and sub‐adult growth rate shows moderate heritability and no adverse genetic correlations with other production traits. Nevertheless fillet yield is comparatively low, and in conjunction with unpredictable and early sexual development in culture, industry‐scale meat production remains problematic. These obstacles, however, do not preclude the use of black bream as a recreational fish species for inland saline waters, where their stocking may provide an additional source of rural income and relieve fishing pressure on depleted estuarine populations.     

Bioeconomic analysis of intensive production of the blue shrimp Litopenaeus stylirostris (Stimpson)

A bioeconomic approach was used to evaluate random variation of growth and mortality parameters and feed conversion ratio (FCR) for intensive production of the blue shrimp Litopenaeus stylirostris (Stimpson). Severe mortality problems caused by high impact diseases were not considered in this analysis. For a 50‐ha farm, the maximum values of the internal rate of return (IRR=44%) and net revenue above operation costs (NR=US$1 211 000) were obtained for a stocking density of 67 postlarvae (PL) m^?2 during winter–spring (cycle 1) and 65 PL m^?2 during summer–autumn (cycle 2). Regardless of the density used for cycle 1, stocking at 50 and 65 PL m^–2 for cycle 2 sufficed to obtain, respectively, IRRs greater than the minimum attractive IRRs of 15% and 30%. A frequency distribution of IRR, projected for densities of 67 and 65 PL m^?2, showed high confidence in obtaining IRR values above 15% and 30% (i.e. confidence >99% and 92% respectively). The frequency distribution of NR showed that the farm could operate without economic losses. Stocking a minimum of 53% of the capacity of the farm would guarantee positive NR. Sensitivity analysis indicated that the IRR and NR were mainly influenced by mortality rate, selling price, density, final weight and FCR.     

Systems modelling and bioeconomic modelling in aquaculture

Abstract

This paper reviews current and potential applications of systems models and bioeconomic models in aquaculture. Basic information on alternative types of models and the process of model design and implementation is presented. A simple optimal control model, applied to harvesting and feeding decisions, is used to illustrate the numerical solution of dynamic optimization problems. The dynamic programming version of the problem is also presented and the advantages of each approach are discussed. The paper concludes with a discussion of future prospects. An overly mathematical language is avoided and emphasis is placed on practical solution techniques.     

Tropical spiny lobster (Panulirus ornatus) farming in Vietnam – bioeconomics and perceived constraints to development

This paper presents bioeconomic data on lobster farming in Vietnam, and perceived constraints to the development of the industry. The farms were found to be profitable, with an average benefit cost ratio of 1.44 and an average net revenue of 262 million VND year^?1 (or just under US$15 000 year^?1). Investment in the enterprise is high compared with other enterprises in the region. However, disease has the potential to devastate lobster crops and there is little information available to lobster farmers about disease prevention and management. Hence, the lobster enterprise is a high‐risk high‐return industry. The predominant perceived constraints to the development of lobster operations include water quality and temperature issues, insufficient access to credit, good‐quality affordable feed and accurate information about technology improvements in lobster farming. It seems that improving the livelihood of lobster farmers in Vietnam is dependent on reducing their dependence on wild stocks for seed and feed, improving access to credit and improving technical and market information flows. Such improvements are likely to lead to higher profitability, given high export demand and hence sustained high prices for their lobster product.     

THE IMPACT OF PRICE AND YIELD RISK ON THE BIOECONOMICS OF RESERVOIR AQUACULTURE IN NORTHERN VIETNAM

A bioeconomic model of reservoir aquaculture in northern Vietnam is used to investigate the impacts of fish price and yield variability on the level and riskiness of expected net revenue. Net revenue is volatile compared with similar enterprises in other countries, mainly due to high yield variability. This reflects the nascent nature of the industry in Vietnam and the potential for efficiency and productivity improvements. Increasing production intensiveness, as well as reservoir size, was found to increase profits and decrease revenue risk. Among the management parameters studied, expected net revenue was found to be most sensitive to the length of the production cycle and to the harvest rate, while revenue risk was most sensitive to cycle length. Reservoir size was found to affect net revenue less than anticipated. Although common carp monoculture was found to maximize expected profit, the current species mix minimizes risk, thereby suggesting high risk aversion by northern Vietnam's poor farmers.     

Application of the Faustmann principle to a short-rotation tree species: an analytical tool for economists,with reference to Kenya and leucaena

Attention has increasingly focussed on fast-growing trees as a potential means of slowing high rates of deforestation and as a source of renewable energy. Unfortunately, the analytical tools for determining economic tractability of tree-growing projects lags behind the popular support to implement them. This paper brings the methodology of the Faustmann Principle, which was established for use with longer growing species, to bear on leucaena, a short-rotation, leguminous tree crop. The principle incorporates biological and economic parameters to derive a function relating the present value of net revenue to rotation length. Additionally, a method of incorporating secondary benefits, such as nitrogen fixation, is demonstrated. Results from the model are applied to Kenya. Research on agro-climatic zones in Kenya is used to indicate the potential volume of leucaena production.     

BIOECONOMICS OF COBIA,RACHYCENTRON CANADUM,CULTURE IN VIETNAM

This article presents an analysis of the profitability and intensity of cobia culture by small-scale farmers in Vietnam, especially focusing on current feeding practices and perceptions regarding adoption of manufactured diets. Bioeconomic modelling is used so the interactions between biological and economic processes can be analyzed. Overall, it is found that cobia farming is moderately to highly profitable when compared to other aquaculture species in Vietnam. Culture practices and the level of intensity of cobia farming differ significantly across Vietnam. Initial stocking density, total number of fish stocked, number and size of cages, and quantity of feed used are all higher in southern Vietnam than the north. The higher level of intensification in the south leads to significantly higher total costs, productivity and profitability. The dominant cost source is feed, which is predominantly low-value fish. To capture the environmental and potential economic benefits of adopting pelleted diets, then negative farmer perceptions regarding relatively slow growth rates, and lack of availability compared with low-value fish need to be overcome.     

Mariculture of giant clams,Tridacna crocea and T. derasa: Management for maximum profit by smallholders in Solomon Islands

Abstract

The International Center for Living Aquatic Resources Management (ICLARM) has demonstrated that coastal village communities in Solomon Islands can successfully farm giant clams. The production technology is simple and does not require a large capital investment. The main inputs are clam seed, labour and time. Labour is used for activities such as planting, cleaning, thinning and harvesting. In this paper, a bioeconomic model is used to explore optimal farm management for two species of giant clam fanned for the aquarium and seafood markets. The theoretical basis for this analysis is found in the economic theory of optimal forestry exploitation. Optimal management involves finding the combination of the decision variables and the cycle‐length that maximises a stream of discounted profits. The decision variables considered here are husbandry which relates to cleaning, and the frequency with which thinning is undertaken. The optimal cycle‐length is determined for both a single‐clam harvest and multiple harvests for various management scenarios. The labour requirements for these management scenarios are identified for the multiple‐harvest case and input substitution between optimal combinations of labour and cycle‐length is investigated. Results indicate that profits are maximised for both species when husbandry is excellent and labour usage is most intensive. Thinning is only necessary for seafood clams for which the optimal cycle‐length is longer. Village farmers may not be profit maximisers however, and labour spent on giant‐clam farming takes them away from other activities. Rather than investing more labour and harvesting the clams earlier, a village farmer with other objectives may devote less labour and harvest the clams later, and spend more time on other activities. In general, these results are consistent with extension advice provided to village farmers by ICLARM. Optimal solutions were found to be very stable when incorporated into global optimisation routines and sensitivity analysis of a wide range of parameter values.