Developing a bioeconomic framework for scallop culture optimization and product development

Abstract

Aquaculture is the fastest growing food production sector in the world and is quickly diversifying. In the Northwest Atlantic, interest in sea scallop (Placopecten magellanicus) (hereafter scallop) aquaculture has grown substantially. However, technical and economic challenges have hindered industry growth. We conducted bioeconomic simulations for various sized farms that targeted either live “whole” scallops or the shucked adductor muscle “meat.” The majority of farms selling whole scallops were profitable. However, all farms selling meats generated negative returns. Labor made up the greatest portion of costs in model simulations and increased linearly with farm size, representing a significant bottleneck. Whole scallop farm value was most sensitive to changes in (1) market price and (2) time to market. Our analysis suggests four strategies to increase farmed scallop production in the Northwest Atlantic: (1) mechanize low density net culture, (2) optimize net stocking densities, (3) build site selection tools, and (4) invest in consumer education, end-markets, and biotoxin testing for whole scallops. The sector will require a combination of regulatory, industry, and research cooperation to overcome these pressing challenges, but holds the potential to profitably diversify the bivalve aquaculture industry.