Bioeconomic modelling of hatchery, grow-out and combined business of Australian black tiger shrimp Penaeus monodon farming

Marín-Riffo, Maria C., Raadsma, Herman W., Jerry, Dean R., Coman, Greg J., and Khatkar, Mehar S. (2021) Bioeconomic modelling of hatchery, grow-out and combined business of Australian black tiger shrimp Penaeus monodon farming. Reviews in Aquaculture, 13 (3). pp. 1695-1708.

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Abstract

Penaeus monodon is the primary shrimp species farmed in Australia. Based on an extensive survey of the literature and industry information, we identified and compiled 318 different parameters related to shrimp aquaculture enterprises and production. Using these as input parameters, we performed detailed bioeconomic modelling for evaluating the economic viability of intensive culture scenarios and identified the major drivers of business profitability under Australian conditions. Three business types (hatchery, grow-out and combined hatchery + grow-out) were evaluated by simulating varying numbers of female broodstock and ponds in operation based on annual, six-monthly, quarterly and monthly stocking events per year over a 10-year period. Net present value was the main economic variable for comparison. The hatchery business was most profitable in scenario with 250 females being spawned monthly or 500 females at least quarterly, that is, >2000 females spawned per year. Feed, acquisition of broodstock and fixed labour were major costs for hatchery scenarios. For a grow-out business, all scenarios were profitable even at the smallest scale modelled (50 ponds stocked annually). Feed, power and purchase of post-larvae were major costs for grow-out business. The combined business was the most profitable for a large enterprise and required at least 100 ponds stocked over the year. The three major costs in the combined business were feed, power and labour. Sensitivity analyses showed feed cost and survival parameters were critical for profitability.

Item ID: 70389
Item Type: Article (Research - C1)
ISSN: 1753-5131
Keywords: black tiger prawn, economic feasibility, net present value, shrimp production, simulation
Copyright Information: © 2021 John Wiley & Sons Australia, Ltd.
Funders: Australian Research Council (ARC)
Projects and Grants: ARC IH130200013
Date Deposited: 03 Apr 2022 23:08
Downloads: Total: 1
Last 12 Months: 1
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