Recent Changes in the Bioeconomic of Finfish Mariculture in Vietnam

Abstract

Finfish mariculture farmers in Vietnam are making careful practice change decisions in reaction to a number of economic drivers. These economic drivers are centred on trends of increasing input costs and decreasing output prices. In general, mariculture farmers are adapting to the cost-price squeeze in a number of ways, including increasing stocking densities and area, and by adopting risk-reducing strategies (decreasing grow-out periods and using a larger number of smaller ponds to spread mortality risk). However, there is still a shortage of good quality low-cost fingerlings which is constraining farmers’ ability to adapt to the cost-price squeeze. The dominant input cost source is feed. Most farmers are still reliant on trash-fish feeds. With low and decreasing feed conversion ratios for trash-fish, there is decreasing incentive for these farmers to change to pelleted diets. Southern Asian seabass farmers have made the practice change to pellets, but feed conversion ratios are high preventing significant economic gains from making the change. This research highlights two key areas where policy, research and extension initiatives can have a significant impact on the long-term economic and environmental viability of mariculture operations in Vietnam while protecting fish stocks: firstly, ensuring the widespread availability of low-cost hatchery-produced fingerlings, and secondly, encouraging practice change from trash-fish diets to the well-managed use of manufactured pelleted diets.