Search

Economics is the study of the allocation of scarce resources to meet human wants and needs and has a critical role to play in addressing challenges related to environmental sustainability, community resilience, and food security. In the context of aquaculture, the key to such a discussion is understanding the linkages of aquaculture farming businesses with other economic sectors and how policy decisions that affect aquaculture result in economic ripples throughout local, regional, and national economies. The only previous national estimates of the economic contributions of U.S. aquaculture are nearly 30 years old. The current study was based on comprehensive data from detailed farm‐level surveys (that captured 77% of the total value of U.S. aquaculture) supplemented by information from publications on the remaining aquaculture sectors. The economic contributions measured in this study were limited to those at the farm level and do not include subsequent impacts that occur as farmed products move through processing, distribution, food service, and retail sectors in the U.S. economy. Results showed that U.S. aquaculture farms contributed $4 billion annually and supported more than 22,000 jobs each year. Labor income and value‐added contributions were $1 billion and $3 billion, respectively. Analysis of the linkages of U.S. aquaculture production activities with other economic sectors showed that nearly all (96%) economic sectors were supported to some degree by U.S. aquaculture farms. Foodfish farms generated the greatest contributions, followed by mollusk farms. Freshwater aquaculture farms contributed twice that of the contributions of marine aquaculture because of the greater size of the freshwater aquaculture sector. Growth of both freshwater and marine sectors would increase overall contributions to the economy. Constraints to growth of aquaculture include regulatory barriers that have restricted existing sectors from meeting current demand for their products. The lack of an adequate regulatory framework for offshore marine aquaculture has constrained its growth and development, especially with respect to the rest of the world. Streamlined regulations implemented in a more timely and efficient manner could result in substantially greater economic contributions from existing U.S. aquaculture farms. The total economic impact of U.S. aquaculture production is likely three to four times greater than the farm‐level impacts estimated in this study as a result of impacts that occur as aquaculture products move downstream through various marketing channels. Additional research is needed to measure the impacts of U.S. aquaculture products in the processing, distribution, food service, supermarket, and restaurant levels of the marketing chain to fully capture the total economic contributions from U.S. aquaculture. [ABSTRACT FROM AUTHOR]

Research efforts have led to development of aquaculture technologies for 20 marine finfish species with potential for commercialization. Successful commercialization of these species will require information on marketing opportunities to complement research on production methods. This study provides a descriptive summary of survey results of consumers in the southeast U.S. region. An online survey of 818 seafood consumers was conducted to elicit information on consumer awareness and familiarity with each of the 20 species, frequency of consumption, importance of various finfish attributes, important sources of information on finfish, and locations where southeast U.S. consumers would be most likely to try a fish that they had never eaten. Results generally suggest a lack of familiarity with the 20 species of interest. Respondents consumed seafood more often at specialty seafood and local restaurants at greater average menu prices than at national chain restaurants. The choice of finfish was reported to be affected primarily by taste and flavor, followed by texture, preparation method (restaurants only), availability, and price. Greater percentages of respondents who had consumed a species of interest reported that they were likely to buy it at restaurants and grocery stores if farmed and offered at a price similar to the fish they consumed most often. Market development for these species will likely require media campaigns that include traditional news and social media to first increase awareness and then provide opportunities for consumers to trial the species. [ABSTRACT FROM AUTHOR]

This study examined seafood consumption during the early period of economic recovery following the COVID-19 pandemic. Specifically, surveys of U.S. consumers compared seafood purchasing behavior of the first two quarters of 2021 (Q1, 1 January through 31 March 2021, and Q2, 1 April through 30 June 2021) with those of 2020. Each survey included 100 seafood consumer respondents in each of the 20 U.S. metropolitan market areas. Following data cleaning, there were 1885 valid responses for Q1-2021 and 1940 for Q2-2021. A majority (57%) of respondents had received at least one dose of the COVID-19 vaccine before March 2021 and 70% had received at least one dose as of June 2021. Regardless of vaccination status, few respondents (6% to 9.5% for food generally and 4% to 6.5% for seafood) reported changes in seafood consumption. Seafood consumption away from home increased significantly in Q1-2021 as compared to 2020 and continued to increase but to a lesser degree in Q2-2021. Demographic differences were found in shopping behaviors by age, education, income, and gender, but not by ethnic group. Generally, higher-income females with higher education tended to purchase more seafood. Respondents reported increased numbers of shopping trips per year in Q1-2021 as compared to 2020, which continued into Q2-2021 for general food, but shopping trips for seafood decreased as compared to 2020. The frequency of takeout purchases (times/year) of prepared meals for home consumption of seafood decreased during Q1 from 2020 and remained at that level in Q2-2021, but home delivery purchases of prepared meals of seafood increased during this period. Approximately 50–55% of respondents reported no change in overall seafood consumption levels, while 28% noted an increase in seafood consumption compared to pre-pandemic periods, a significant increase from the 19% who had reported doing so pre-pandemic. In contrast, those reporting a decrease declined from 31% to 17% in comparison to pre-pandemic levels. Seafood consumption in the U.S. remained stable and recovered in early 2021, with a preference for dining out. Consumer behaviors varied by age, income, education, and gender, but not by ethnicity. These changes were primarily driven by access, availability, and income, indicating the need for further research on long-term consumption patterns. This study found apparent stability of seafood consumption by U.S. consumers, which recovered from pandemic consumption levels in early 2021, and there was little change in seafood consumption, frequency, or the types of seafood consumed. Vaccination status did not appear to affect seafood consumption. [ABSTRACT FROM AUTHOR]

Edwardsiellosis of catfish caused by Edwardsiella ictaluri and Edwardsiella piscicida remains one of the most significant diseases in U.S. catfish aquaculture. Economic losses related to this disease are currently unknown. This work sheds light on the losses associated with E. ictaluri and E. piscicida in catfish aquaculture. The robust economic approach employed is grounded in farm-level production data and long-term disease trends in the industry. Direct farm-level economic losses from Edwardsiellosis ranged from −$3,485 to −$13,320/ha causing industrywide economic losses of −$5.2 to −$17.6 million/year. The lost revenue due to Edwardsiellosis ranged from −$8.4 to −$24.8 million/year causing a negative economic impact of −$15.5 to −$45.9 million/year. The economic losses and negative impacts of Edwardsiellosis are relatively greater on the foodfish sector compared to the fingerling sector. This work provides a platform for a more accurate estimation of the true economic impacts of diseases for aquaculture sectors for which commercial farm data is available. [ABSTRACT FROM AUTHOR]

Feed conversion ratio (FCR) is widely used as a measure of feed use efficiency in commercial aquaculture production and research. Surprisingly, little work has focused on the factors that affect FCR in plankton‐based, commercial ponds despite the widespread use of FCR as a production metric. Proposals to use FCR as a numeric standard for environmental regulation (mandatory or voluntary) raise questions as to whether FCR meets the reliability and consistency requirements of a good metric, and whether it would lead to desired behavioral changes. This article summarizes FCR data from university research verification programs conducted on US catfish farms and databases developed from commercial farm records. The relevant research literature is synthesized with respect to factors that affect FCR. US catfish is used as a case study because pond‐level data from verification trials (Extension/research‐led on‐farm trials of best available science) and commercial farm records are available. While specific to US catfish production, the analysis provides insights into factors affecting FCR that likely apply to other pond‐based aquaculture species. Commercial verification of pond data showed (1) significant variation in FCR (coefficients of variation from 1% to 47%) among ponds with similar stocking, feeding, and aeration rates; (2) significant effects of survival on FCR; and (3) no significant effects on FCR of yield, feed type, management, or production system. Improvements in FCR would occur with improved survival that requires improved management of federally protected fish‐eating bird populations and development of additional, effective vaccines for diseases. FCRs were found to not exhibit the degree of reliability and consistency required for use as an effective metric or numeric standard for regulatory purposes. Use of FCR for mandatory or voluntary regulation is unlikely to lead to behavioral changes by farmers. [ABSTRACT FROM AUTHOR]

Regulatory changes to the Lacey Act and recent petitions to add aquaculture species in trade to the list of injurious wildlife could lead to prohibitions of interstate movement of live aquatic organisms with the potential for unintended, negative economic consequences. In this analysis, the economic impact of the potential federal prohibition of interstate transport of seven aquaculture species (blue catfish, tilapia, red swamp crawfish, grass carp, koi, guppy, and goldfish) currently in trade was assessed. Total economic impact was estimated to be $452 million (USD) annually, with a loss of 4819 jobs and a loss of $35 million in tax revenue. Effects could potentially occur on the largest sectors of U.S. aquaculture in as many as 80% of U.S. states and result in negative economic effects on as much as 21% of U.S. aquaculture farms. [ABSTRACT FROM AUTHOR]

Objective: Three trials were conducted to determine the effects of broodfish management on reproductive efficiency of pond‐spawned Channel Catfish Ictalurus punctatus. Methods: Trial 1 compared male to female broodfish sex ratios of 1:1 versus 1:4, trial 2 compared low (1065 kg/ha) versus high (2050 kg/ha) broodfish stocking densities, and trial 3 compared low (1525 kg/ha) and high (5780 kg/ha) postspawn broodfish holding‐pond densities on measures of reproductive efficiency. Result: Males had lower survival than females in all trials. Age, weight, and survival of broodfish were similar for each treatment within trials. A higher percentage of females spawned at the 1:1 male to female ratio than at the 1:4 ratio (40.8% versus 12.5%), resulting in more eggs per hectare, eggs per kilogram of broodfish, fry per hectare, and fry per kilogram of broodfish for the 1:1 ratio compared to the 1:4 ratio. Male spawning success (~31%) was similar for 1:1 and 1:4 sex ratios. Spawning fish weighed more than nonspawning fish for both sexes, and surviving males weighed less than nonsurviving males in trial 1. In trial 2, the percentage of egg masses collected per female stocked was higher for the high broodfish density than the low density (34.0% versus 16.4%), resulting in more eggs per hectare and fry per hectare for the high stocking density resulting in whole‐farm economic benefits ranging from US$323/ha to $828/ha primarily from the reduction in the area required for broodstock. Conclusion: Results indicate that the 1:1 male to female broodfish ratio (trial 1) and high broodfish stocking density (trial 2) resulted in better reproduction than the 1:4 sex ratio and low broodfish stocking density. The effects of low versus high broodfish holding‐pond densities did not affect reproductive output. Impact statementTrials were conducted to determine the effects of proportions of males and females, biomass of broodfish in ponds during spawning season, and biomass of broodfish during winter on spawning success of Channel Catfish. A ratio of one male to one female provided better spawning than one male to four females. A higher biomass of broodfish during the spring spawning season resulted in better spawning efficiency than a lower biomass. Biomass of broodfish during the winter had no effect on spawning. This information will help reduce costs associated with producing catfish and benefit both producers and consumers of catfish. [ABSTRACT FROM AUTHOR]

Farm-raised catfish is the largest U.S. aquaculture industry. Over the years, the ingenuity of catfish processors has made catfish products available all over the U.S. including globally competitive retail marketplaces. U.S catfish products face stiff competition from Vietnamese swai products in these diverse markets. This work elucidates the detailed nascent retail trends for U.S. catfish and swai products by evaluating weekly, store-based, AC Nielsen ScanTrack data from September 2016 through August 2021. The five-year analysis compares retail sales of U.S. catfish and swai products across national, regional, and city levels while providing key trends in product forms, quantities sold, promotional patterns, and price information. Results indicated an average annual growth rate of retail sales of 5.8% for U.S. catfish and 0.7% for swai. The South Central region had the greatest total retail sales for both U.S. catfish and swai products. Dallas/Fort Worth had the greatest total retail seafood sales for U.S. catfish products, followed by Chicago and St. Louis. Los Angeles was the most important city for retail swai sales. The 454-g U.S. catfish packs had a share of 77 and 68% in terms of volume and revenue while the same pack for swai had 48 and 28% volume and revenue shares. Frozen and refrigerated products dominated sales for both products in 2021. Swai products were characteristically priced lower than U.S. catfish products across all regions, cities, and study years, especially for larger packs. The study revealed the shift to increase at-home consumption of these two products during the pandemic years that have been reported for other seafood products. [ABSTRACT FROM AUTHOR]

Benchmarking programs for crop and livestock farms have been used by farmers to identify ways to improve farm efficiencies. This study developed a set of benchmarks for oyster, mussel, and seaweed farming in Maine (USA). Farm-level survey data were used to calculate benchmarking metrics for each farm respondent. Results showed the importance of disaggregating benchmarking metrics by production scale, gear type, and whether farms were initial startup (defined in this study as <5 years in business) or established (>5 years in business) farms. The initial analysis of cost structures on individual farms provided useful information from which to identify key categories for disaggregation. Identification of the most important cost inputs further points to which benchmarks will be of greatest value for different groups of farms. Results for oyster farms showed that startup costs per oyster harvested were lowest ($0.20/oyster) on established bottom culture farms as compared to $0.96/oyster for established suspended oyster farms, and highest ($1.75/oyster) on startup oyster farms. Profits (Net Farm Income) per oyster were greatest on established bottom oyster farms followed by established suspended oyster farms, but were negative on average, for startup farms. Per-hectare, however, profits were greater on established suspended than bottom culture oyster farms. Labor efficiencies were also greatest for established suspended oyster farms (65 oysters/hour of labor), followed by established bottom culture oyster farms (55 oysters/hour of labor), with the lowest labor efficiency (44 oysters/hour of labor) for startup oyster farms. Given the inherent variability among aquaculture farms, adequate numbers of observations of participating farmers are necessary within each production scale/gear type and startup/established categories for benchmarks to be of value. For emerging sectors of aquaculture, benchmarking metrics can be useful for navigating the critical startup period, but obtaining sufficient numbers of observations is a challenge. Benchmarking metrics for established farm businesses provide guidance on the levels of production and economic performance necessary to be successful. Overall, benchmark values are most useful when applied in a holistic fashion that takes into consideration the performance of the farm across all production, revenue, expense, and efficiency categories (labor, capital, and financial). [ABSTRACT FROM AUTHOR]

Interest in retail seafood sales increased dramatically with the onset of the COVID‐19 pandemic. The diversity of species, types of products, product forms, and packaging of the seafood sold at retail, combined with diverse consumer preferences across the United States, requires detailed data and analysis to provide guidance and understanding of emerging trends. Weekly, store‐based, Nielsen Scantrack data for the period of September 2016 through August 2021 were used to compare trends in US retail (supermarket) seafood sales across the 5‐year study period, in continental regions, cities, and species categories sold. Results showed continuous increases in retail seafood sales over the study period at an average annual growth rate of 8.1%, much of which was fueled by the 21% increase in total sales (19.5% increase in quantity sold) the first year after the onset of the pandemic. The South Atlantic region was found to have the greatest total sales and sales per capita among regions. New York City had the greatest total seafood sales, followed by Los Angeles and Philadelphia. The top five most important species categories in terms of sales were, in declining order, shrimp, salmon, tuna, crab, and tilapia, although regional variability became apparent from the fourth‐ranked species. The most important package sizes were 454‐ and 907‐g packs. Frozen and refrigerated categories dominated sales (70% in 2021), with little growth in entrées and a decline in market share of shelf‐stable seafood products in 2021. Retail supermarket seafood sales increased dramatically following the onset of the pandemic, with especially notable percentage increases in lobster (77%) and crab sales (70%) and the lowest percentage increases in tuna (1%) and tilapia (13%). Given that US per capita seafood consumption did not show a corresponding increase over the study period, study results likely indicate a shift to greater relative consumption at home and not an overall increase in US seafood sales. [ABSTRACT FROM AUTHOR]

The ornamental aquaculture trade is a diverse sector of aquaculture and faces unique challenges that other commodity groups do not have to contend with. The various production techniques, species, and destination markets make ornamental aquaculture an interesting study in how regulations impact the industry. In Florida, aquaculture is primarily regulated under the Florida Department of Agriculture and Consumer Services, unique from other states. Regulatory costs and the value of lost production on ornamental farms in Florida were estimated to be $5.2 and $23.2 million, respectively. Results from an industry‐wide census have shown that there is a high regulatory burden on ornamental farmers for some regulatory categories. These include issues of legal control of fish‐eating predators, the restriction of drugs and chemicals, which would be beneficial to production, and the prohibition for farmers to raise species that have been restricted for culture at the national and state level. Larger farms were also able to limit the impact from regulations better than smaller farms by spreading their regulatory costs and value of lost production across greater sales. Although the values of lost production were high for ornamental producers, direct regulatory costs were low compared with other aquaculture commodities demonstrating that the industry in Florida may prove a regulatory model for other sectors. [ABSTRACT FROM AUTHOR]