Economic feasibility of copepod production for commercial use: Result from a prototype production facility

Abstract

During the last three decades, it has been shown that copepods are a superior live feed for marine finfish larvae compared to other commonly used live feed items, such as Artemia and rotifers. The use of copepods, which have a better biochemical composition, increases survival rate, improves growth condition, reduces mal-pigmentation and allows breeding of ‘new’ marine finfish species. However, copepods are not yet commercially produced and therefore not widely used in the aquaculture industry. One of the bottlenecks for large-scale production has been lack of economic knowledge on the feasibility of producing copepods for commercial application. This is the first empirical study to investigate the economic feasibility of copepod production for commercial use. To this end, a standard cost-benefit analysis based on a prototype production facility of Acartia tonsa (Dana) eggs at Roskilde University, Denmark, is employed. The result reveals that commercial production of copepods is economically feasible considering the existing market prices on both copepods and competing live feed items such as rotifers. The study provides valuable information for businesses who consider investing in live feed production for marine finfish aquaculture. Furthermore, the study also highlights the economic benefits of production and utilization of copepods on productivity and species diversification in marine finfish aquaculture. • A prototype intensive production facility for the copepod species Acartia tonsa was built. • Unique data set was collected when the system was built and while it was running. • Cost-benefit analysis was employed to assess the economic feasibility of production. • Both NPV and IRR show that the production facility is economically viable and worthwhile. • Commercial application of copepods will enhance productivity growth in aquaculture.