Economic feasibility of integrated multi-trophic aquaculture (mussel Perna perna, scallop Nodipecten nodosus and seaweed Kappaphycus alvarezii) in Southeast Brazil: A small-scale aquaculture farm model

Abstract

The economic viability of integrated multi-trophic aquaculture (IMTA) (Perna perna mussel, Nodipecten nodosus scallop, and Kappaphycus alvarezii algae) on the southeastern coast of Brazil was evaluated for a small-scale family production system, on 0.4 ha. Two 85 m longlines were used for the cultivation of P. Perna and another two were used for N. nodosus (System A). In addition, among the longlines, for the IMTA production (System B), four 85 m rafts were installed for the cultivation of K. alvarezii. Investment, operating costs, and profitability were estimated for the two production systems. Simulations of variations in the survival and in the market prices of the products were also carried out. A sensitivity analysis assessed the consequences of an annual crop loss. The financial indicators of Gross Revenue and Operating Profit, as well as the profitability indicators of the Gross Margin and Profitability Index showed positive values in all the conditions proposed for the two systems evaluated, even considering the crop loss. The Payback Period in the worst condition assessed was 4.24 years, still considered to be of low risk for the investment made. According to the particularities described here, there was economic viability with returns always above the nominal discount rate of 6%. The proposed economic evaluation model had the purpose of obtaining exact results, which would occasionally characterize the preliminary experience of commercial crops in an IMTA system on a family-size scale in Southeast Brazil, could contribute to a major socioeconomic advance in the region.