Economic optimization of super-intensive biosecure recirculating shrimp production systems

Abstract

Super-intensive, biosecure, recirculating shrimp production systems (SIBRSPS) have been developed to prevent disease outbreaks and improve profitability. To evaluate the economic viability for SIBRSPS, the Hanson-Posadas bioeconomic model was developed to conduct analysis of net present values (NPVs), internal rate of returns (IRRs), and payback periods. The objective of this study is to develop a profit maximization model, as an enhancement to the Hanson-Posadas bioeconomic model, to determine the optimal harvesting week, size, and batch number per year and evaluate the economic viability for the SIBRSPS. Biological growth and feed functions in the profit maximization model were estimated using data from experiments conducted at the Gulf Coast Research Laboratory (GCRL), Waddell Mariculture Center (WMC), and the Oceanic Institute (OI) during 2003 through 2006. Results found that Pacific white shrimp (Litopenaeus vannamei) growth and feed significantly (P < 0.01) responded to number of weeks farmed as quadratic concave function shapes in GCRL and WMC and as linear in OI. The optimal harvest week, size, and batch number per year are 12th–18th week, 18–21 g, and approximately three to four batches, respectively, depending on the location. The economic viability of SIBRSPS is questionable, with positive NPVs ($9.35, $2.27, and $0.36 million) experienced only in three (OI-14, WMC-9, and WMC-8, respectively) out of seven experiment scenarios. Profitability is dependent on economic factors including L. vannamei prices and establishment and maintenance costs of SIBRSPS as well as biological factors such as stocking density, initial puerulus (PL) size, growth rates, feed conversion rates, and survival rates.