Economic analysis of intensive and super-intensive Litopenaeus vannamei shrimp production in a Biofloc Technology system
DOI:
https://doi.org/10.20950/10.20950/1678-2305/bip.2022.48.e692Keywords:
Biofloc technology, Investment analysis, Sensitivity analysis, Aquaculture management, Modern aquacultureAbstract
In recent decades, new aquaculture technologies have been developed and improved, such as the Biofloc Technology system, which is considered an alternative to the conventional aquaculture model. This study compared the bioeconomic viability of intensive production in nurseries and super-intensive production of shrimp Litopenaeus vannamei bioflocs greenhouses. The investment for implementing the project was US$ 767,190.18 for intensive production and US$ 807,669.16 for super-intensive production. The analyses showed Net Present Value of US$ 363,718.21 and US$ 385,477.42, Equivalent annual value of US$ 59,830.66 and US$ 63,410.00, Net future value of US$ 965,052.69 and US$ 1,022,786.35, Payback Period 4.12 and 4.11, Discounted payback period 5.64 and 5.63, Profitability Index 1.47 and 1.48, Internal Rate of Return 20.49 and 20.55%, and Modified Internal Rate of Return 14.61 and 14.64%. The investment analysis used in this study showed that super-intensive production in a greenhouse is the best investment option. The development of a new scenario simulating the super-intensive production of shrimp in a Biofloc Technology system, considering land use as a premise, made it possible to observe the possibility of obtaining financial gains in scale, both in the reduction of production costs and in the economic performance of the enterprise. However, the financial contribution for the implementation and operation of the project increased substantially.
References
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Di Trapani, A.M.; Sgroi, F.; Testa, R.; Tudisca, S. 2014. Economic comparison between offshore and inshore aquaculture production systems of European sea bass in Italy. Aquaculture, 434: 334-339. https://doi.org/10.1016/j.aquaculture.2014.09.001
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Gitman, L.J.; Zutter, C.J. 2018. Principles of Managerial Finance. Pearson Education, Boston.
Godfray, H.C.J.; Beddington, J.R.; Crute, I.R.; Haddad, L.; Lawrence, D.; Muir, J.F.; Pretty, J.; Robinson, S.; Thomas, S.M.; Toulmin, C. 2010. Food security: the challenge of feeding 9 billion people. Science, 327(5967): 812-818. https://doi.org/10.1126/science.1185383
Gollier, C. 2010. Expected net present value, expected net future value, and the Ramsey rule. Journal of Environmental Economics and Management, 59: 142-148. https://doi.org/10.1016/j.jeem.2009.11.003
Hanson, T.R.; Posadas, B.C.; Samocha, T.; Stokes, A.D.; Losordo, T.M.; Browdy, C.L. 2009. Economic factors critical to the profitability of super-intensive biofloc recirculating shrimp production systems for marine shrimp Litopenaeus vannamei. In: Browdy, C.L.; Jory, D.E. (eds.). Rising tide, proceedings of the special session on sustainable shrimp farming, world aquaculture 2009. The World Aquaculture Society, Louisiana. p. 267-283
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Krummenauer, D.; Peixoto, S.; Cavalli, R.O.; Poersch, L.H.; Wasielesky, W. 2011. Super-intensive Culture of White Shrimp, Litopenaeus vannamei, in a Biofloc Technology System in Southern Brazil at Different Stocking Densities. Journal of the World Aquaculture Society, 42(5): 726-733. https://doi.org/10.1111/j.1749-7345.2011.00507.x
Krummenauer, D.; Júnior, C.A.S.; Poersch, L.H.; Fóes, G.K.; Lara, G.R.; Wasielesky, W. 2012. Cultivo de camarões marinhos em sistema de bioflocos: análise da reutilização da água. Atlí¢ntica (Rio Grande), 34(2): 103-111. https://doi.org/10.5088/atl.2012.34.2.103
Mauladani, S.; Rahmawati, A.I.; Absirin, M.F.; Saputra, R.N.; Pratama, A.F.; Hidayatullah, A.; Dwiarto, A.; Syarif, A.; Junaedi, H.; Cahyadi, D.; Saputra, H.K.H.; Prabowo, W.T.; Kartamiharja, U.K.A.; Noviyanto, A.; Rochman, N.T. 2020. Economic feasibility study of Litopenaeus vannamei shrimp farming: nanobubble investment in increasing harvest productivity. Jurnal Akuakultur Indonesia, 19: 30-38. https://doi.org/10.19027/jai.19.1.30-38
Mazzarol, T.W.; Reboud, S. 2020. Workbook for small business management: theory and practice. Springer, Singapore.
Mejía-Ramírez, M.Á.; Rocha, V.V.; Pérez-Rostro, C.I. 2020. Economic feasibility analysis of small-scale aquaculture of the endemic snail Pomacea Patula catemacensis (Baker 1922) from southeast Mexico. Aquatic Living Resources, 33: 2. https://doi.org/10.1051/alr/2020001
Nguyen, T.A.T.; Nguyen, K.A.T.; Jolly, C. 2019. Is Super-Intensification the Solution to Shrimp Production and Export Sustainability? Sustainability, 11(19): 5277. https://doi.org/10.3390/su11195277
Ostrensky, A.; Borghetti, J.R.; Soto, D. 2008. Aqüicultura no Brasil: o desafio é crescer. Organização das Nações Unidas para a Agricultura e Alimentação, Brasília.
Panigrahi, A.; Saranya, C.; Sundaram, M.; Kannan, S.R.V.; Das, R.R.; Kumar, R.S.; Rajesh, P.; Ottaa, S.K. 2018. Carbon: Nitrogen (C: N) ratio level variation influences microbial community of the system and growth as well as immunity of shrimp (Litopenaeus vannamei) in biofloc based culture system. Fish & Shellfish Immunology, 81: 329-337. https://doi.org/10.1016/j.fsi.2018.07.035
Poersch, L.H.; Almeida, M.S.; Gaona, C.A.; Fóes G.K.; Krummenauer, D.; Romano, L.A.; Wasielesky, W. 2012. Bioflocos: uma alternativa econômica viável para produtores de camarões em viveiros. Panorama da Aquicultura, 22(131): 36-43.
Ponce-Palafox, J.; Martinez-Palacios, C.A.; Ross, L.G. 1997. The effects of salinity and temperature on the growth and survival rates of juvenile white shrimp, Penaeus vannamei, Boone, 1931. Aquaculture, 157: 107-115. https://doi.org/10.1016/S0044-8486(97)00148-8
Rego, M.A.S.; Sabbag, O.J.; Soares, R.; Peixoto, S. 2017a. Financial viability of inserting the biofloc technology in a marine shrimp Litopenaeus vannamei farm: a case study in the state of Pernambuco, Brazil. Aquaculture International, 25: 473-483. https://doi.org/10.1007/s10499-016-0044-7
Rego, M.A.S.; Sabbag, O.J.; Soares, R.; Peixoto, S. 2017b. Risk analysis of the insertion of biofloc technology in a marine shrimp Litopenaeus vannamei production in a farm in Pernambuco, Brazil: a case study. Aquaculture, 469: 67-71. https://doi.org/10.1016/j.aquaculture.2016.12.006
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