The Economics of Salmon Aquaculture

About this book

This book has been written to satisfy the need for a text on the international salmon aquaculture industry. It discusses the different processed making up the industry from salmon aquaculture production, the supply chain and markets to optimal harvesting and the costing and planning of salmon production.

Contents

Preface. 1 Introduction. 2 The Production Process in Aquaculture. 2.1 Salmon production. Bibliography. 3 The Supply of Salmon. 3.1 Farmed salmon production. 3.2 Wild salmon production. 3.3 Regulation of salmon aquaculture. 3.4 The growth of large multinational companies. Bibliography. 4 Productivity Growth and Technological Change. 4.1 Declining costs. 4.2 Scale. 4.3 Structure of production costs. 4.4 Smolt production. 4.5 Improved feed quality. 4.6 Diseases and increased survival rates. 4.7 Breeding. 4.8 Cycles in profitability. 4.9 Catching up: regional differences. 4.10 Productivity development in Norway relative to other producers. 4.11 Cost reductions in the supply chain. Bibliography. 5 Environmental Issues. 5.1 The fi sh meal trap. 5.2 Local issues. Bibliography. 6 Markets for Salmon. 6.1 The European Union markets. 6.2 The Japanese salmon market. 6.3 The United States salmon market. 6.4 The Russian market. 6.5 Price development. Bibliography. 7 Competitiveness and Market Structure. 7.1 What is a market? 7.2 The salmon market. 7.3 The size of the market. 7.4 Salmon marketing. 7.5 Trade restrictions. Appendix: a market model. Testing for market interactions. Bibliography. 8 Lessons for Other Farmed Species. 8.1 Other farmed species. 8.2 Lessons from other farmed species. Bibliography. 9 Optimal Harvesting of Farmed Fish. 9.1 A biological model. 9.2 Bioeconomic analysis. 9.3 The rotation problem. Appendix: optimal harvesting of farmed fish. A biological model. Bioeconomic analysis. Harvesting costs. Feed costs. Feed and harvesting costs. The rotation problem. Optimal harvesting: examples. Bibliography. 10 Production Planning in a Salmon Farm. 10.1 Cash fl ow analysis. 10.2 Smolt release and biomass growth. 10.3 Sales revenue. 10.4 Feeding costs. 10.5 Net present value. 10.6 Selective harvesting. 11 Investment in a Salmon Farm. 11.1 A production plan. 11.2 A liquidity budget. 11.3 Cost of production. 11.4 Investing in a new aquaculture company. 11.5 Licence value. 11.6 Buying a fish farming company. References. Index.

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Biography

Frank Asche is Professor at the Department of Industrial Economics, University of Stavanger, Norway. Trond Bjorndal is Professor and Director of the Centre for the Economics and Management of Aquatic Resources (CEMARE), University of Portsmouth, UK, and Professor II, Aalesund University College, Norway.