Yucellys P. Daniel-Lemus 1 , Ernesto J. Carrera 32 No , Santa Marta, Colombia. Ten organisms were collected every 14 days and processed for histology of their gonads. Por otro lado, se han realizado cultivos a nivel experimental en Argentina Aequipecten tehuelchus , Brasil N.
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Abstract Many communities of fishermen throughout the Caribbean are facing economic difficulties due to the decline of marine resources following decades of overexploitation and poor governance of fish stocks. The farming of native species of scallops could provide an alternative path for a more sustainable utilization of marine resources in the region.
This paper presents a cost—benefit analysis of a public scallop hatchery in the fishing village of Taganga, Colombian Caribbean , which has been producing spat of nucleus scallop Argopecten nucleus since the early s, and actively promoting scallop aquaculture among the community of local fishermen since Based on a projected annual output of 3.
Recent innovations in hatchery protocols during the settling stage have led to marked improvements in spat recovery rates, substantially lowering production costs and reducing the hatchery 's initial reliance on subsidies. Because the hatchery seems able to produce spat at a much lower cost than other outfits that have operated in the Caribbean , it could potentially emerge as a regional supplier of high quality seed for the wider Caribbean.
A major factor affecting competitiveness is the high electricity prices normally found in the Colombian Caribbean and elsewhere in the region. Further research on the economics of ocean growout technologies is warranted to better understand the potential of scallop aquaculture as a livelihood alternative for Caribbean fishing communities.
Economic assessment of hatchery production of Argopecten nucleus spat to support the development of scallop aquaculture in the wider Caribbean. Many communities of fishermen throughout the Caribbean are facing economic difficulties due to the decline of marine resources following decades of overexploitation and poor governance of fish stocks.
This paper presents a cost-benefit analysis of a public scallop hatchery in the fishing village of Taganga, Colombian Caribbean, which has been producing spat of nucleus scallop Argopecten nucleus since the early s, and actively promoting scallop aquaculture among the community of local fishermen since Recent innovations in hatchery protocols during the settling stage have led to marked improvements in spat recovery rates, substantially lowering production costs and reducing the hatchery's initial reliance on subsidies.
Because the hatchery seems able to produce spat at a much lower cost than other outfits that have operated in the Caribbean, it could potentially emerge as a regional supplier of high quality seed for the wider Caribbean. Published by Elsevier B. Coastal communities in Caribbean nations have traditionally relied on the exploitation of reef fish populations. It is estimated that fisheries employ nearly , people in the region, earning between USD 5 billion and USD 6 billion per year in foreign exchange and providing about 10 percent of the region's protein intake Nurse, However, high levels of fishing pressure over the last decades have led to region-wide decreases in reef fish stocks Paddack et al.
Because overfishing reduces the capacity of fish herbivores to effectively graze the algae that compete with corals for space Mumby, , dwindling reef fish populations have been linked with declines in live coral cover since the late s Gardner et al. A recent study from the International Union for the Conservation of Nature. IUCN concluded that local stressors including overfishing and an explosion in tourism are the major drivers behind the decline of Caribbean coral reef ecosystems, exceeding the impact of global, long-term stressors such as climate change and ocean acidification Jackson et al.
Given the negative environmental consequences associated with overfishing, the controlled farming of aquatic organisms aquaculture could lead to a more rational utilization of marine resources in the region.
In particular, the farming of mollusc species could emerge as a potentially viable livelihood alternative to traditional fishing. Although fisheries for conch, top shells and bivalve molluscs have played an important historical role in the economies of Caribbean nations, commercial-scale mollusc farming has not taken hold yet. However, interest has recently emerged on the potential of native scallop species as the basis for a regional aquaculture industry. Native scallops are well suited to the nutrient-poor surface waters of the Caribbean and grow well in controlled environments Velasco et al.
Commercial farming of scallops of the family Pectinidae has been very successful in Japan and China. In Latin America, Chile was for many years the most important producer of farmed scallops.
Scallop farming eventually became the third largest industry in the Coquimbo region after copper mining and traditional agriculture von Brand et al.
Production peaked at The establishment of hatcheries for the production of spat was instrumental to the success of the scallop industry in Chile and to a lower degree in Peru. Chilean farmers initially relied on collection of wild spat but soon realized that the fate of the industry would hinge on the consistent supply of high-quality hatchery spat. Many scallop farmers in Chile are former fishermen who were affected by the bans on collection from natural beds.
Fishermen were supported during this transition by government agencies Institute of Fisheries Development and an academic institution, the Northern Catholic University Uriarte, The experiences of the scallop industry in Chile offer valuable guidance to the development of scallop aquaculture in the Caribbean region.
Given adequate training and support from government institutions, fishermen across the Caribbean could transition into scallop farming and embrace it as a sustainable livelihood alternative to artisanal reef fisheries. In light of this potential, the Food and Agricultural Organization of the United Nations FAO held a Regional Technical Workshop in to assess the feasibility of a regional shellfish hatchery to catalyze the development of mollusc aquaculture across the Caribbean Lovatelli and Sarkis, Landings in the nearby fishing village of Taganga in failed to reach 10 percent of the historical average CCI, As a result, many Taganga fishermen have joined the ranks of the informal economy in order to support their families.
Given the reduced availability of freshwater and poor soil productivity in the region, agricultural and stockbreeding projects were soon disregarded as impractical alternatives to artisanal fisheries. Argopecten nucleus Born, is an epibenthic species occurring on sandy-bottom habitats between 10 and m depth Velasco and Barros, Given the low availability of natural seed Castellanos and Campos, , hatchery conditions are necessary to achieve mass production of spat to support commercial culture.
With the support from regional and national government agencies as well as international donors, the University of Magdalena's Mollusc and Microalgae Laboratory MML was built in Taganga in to support basic research on the life cycle and culture requirements of native scallops Velasco, , ; Velasco and Barros, , , ; Velasco et al. Under the arrangement currently in place, the MML donates A. Upon harvest, scallops are processed and packed at the seafood processing facilities of the University of Magdalena and are sold by the cooperative to seafood wholesalers, restaurants and hotels in the area at a price between COP per unit USD 0.
The long-term vision of the MML is to enable the development of scallop aquaculture in Colombia and the wider Caribbean as a sustainable alternative to capture fisheries by providing basic research and extension services as well as a business template to communities of artisanal fishermen and other interested parties from the private sector.
The major objective of this article is to improve our understanding of the economic potential of scallop farming in the region by conducting a comprehensive economic assessment of A. This research should generate valuable insights to government agencies, development organizations, fishermen communities and private sector parties interested in shellfish aquaculture as a potential solution to the crisis created by the decline of capture fisheries throughout the Caribbean.
The production parameters for the economic analysis were based on the averages of experimental data from A. Current production capability is estimated at 3. In addition, on-site interviews with hatchery managers were conducted in in order to obtain updated estimates of construction and equipment costs for the hatchery. The economic performance of the hatchery was evaluated using the cost-benefit analysis CBA methodology.
This is a systematic approach for calculating and comparing the benefits and costs of a project, a program or an investment.
CBA helps predict whether the benefits of a project or investment outweigh its costs, and by how much relative to other alternatives Nas, CBA has been widely used in the aquaculture sector as an appropriate tool to implement rational and systematic decision making Di Trapani et al. Two financial indicators were considered for the CBA. However, much greater success has been. Production stages for a m2 Argopecten nucleus hatchery with an annual output level of 3.
The discounted annual cash flows were obtained from the difference between the annual benefits inflows resulting from the sale of spat and direct costs outflows. Because the spat is currently donated to the fishermen cooperative, the CBA assumed a selling.
On the other hand, direct costs included both the initial cost of investment and annual production costs. Although most equipment costs were obtained from commercial vendors in Colombia, some items are imported e. In these cases, costs were obtained from U.
Costs associated with importing these goods were obtained from Colombian customs guides Perilla, Production costs included all monetary costs related to the production cycle: fuel, electricity, chemicals, lab supplies, labor, concession fees, costs associated with the collection ofbroodstock and harvest of spat, and taxes on earnings. The discounted cash flows were computed for 20 years n , corresponding to the assumed life cycle of the main hatchery building.
According to this indicator, an investment will be convenient if its IRR is higher than a predetermined reference discount rate which typically reflects the rate of return on alternative investments. A major advantage of IRR over NPV is that it does not depend on the reference discount rate chosen but only on the temporal evolution of benefits and costs, allowing a more exhaustive economic comparison among several investments.
However, since IRR is expressed as a percentage, it can make small projects appear more attractive than large ones, even though large projects with lower IRRs can be more attractive from an NPV perspective than smaller projects with higher IRRs Brigham and Houston, Finally, different sources of stochasticity were explored using two approaches.
Also, critical production parameters such as survival rates through larval stages have associated with them probability distributions in addition to the averages shown in Table 1. In conjunction, sensitivity and Monte Carlo analyses provided an informed assessment of the risk levels associated with the hatchery project.
Table 1 summarizes the parameters for each stage of scallop spat production maturation and spawning of broodstock, larviculture, settling of larvae, and culture of postlarvae at sea. An entire production batch lasts approximately This discount rate is derived from a Capital Asset Pricing Model adjusted to reflect the highest risk associated with emerging markets.
Because this cost of capital already includes an expectation of inflation, a 3-percent inflation rate was subtracted to arrive at the real discount rate of nine percent. Estimating net cash revenues for each year using current prices and discounting them using a real discount rate eliminates inflation from all elements of the cost-benefit analysis.
The broodstock consists of adult individuals,3 62 percent of which achieve maturity within 20 days of conditioning. With 47 percent of mature individuals successfully spawning, a total of Assuming a 45 percent survival rate for oocytes, The final density of pediveliger larvae in the seven l larviculture tanks is one larvae mL The pediveliger larvae are distributed into 20 l tanks for the settling phase. Fifty polypropylene onion bags mm mesh size serving as artificial collectors are suspended into each settling tank.
After 15 days, each collector is placed within a nylon protective bag with a mesh opening of 1 mm; the bags are then tied in pairs along ropes lines of m length 50 bags per line , which are then placed into l seawater filled tanks. The lines contained within the tanks are carried to a protected sea inlet and kept suspended at a depth between 6 and 21 m.
The settled postlarvae grow into the juvenile spat phase over the 45 days of sea culture. The recovery rate of spat relative to the pediveliger larval phase is 1. A total of 20 batches are produced per year, resulting in an annual production of 3. The economic analysis is presented in Tables Total investment was estimated at COP ,, approx. USD , at exchange rates. Construction of infrastructure accounted for 54 percent of total investment costs; lab equipment represented around 35 percent of costs while tanks and lab supplies accounted for about eight percent of costs Table 2.
Although all construction costs are included, it is nevertheless assumed that the hatchery is built on a tract of coastal land granted by the state government. Annual production costs are summarized in Table 3. The highest cost items are electricity and labor, accounting for 39 and 37 percent of total costs, respectively.
Fixed costs depreciation expenses mostly represented 11 percent of total costs. These rates are higher than those paid in other regions in Colombia and much higher than those in the U. Table 4 presents the cash flow budget analysis for the m2 hatchery. The major investment is assumed to take place in Year 0 of the project, with smaller re-investments occurring in Years 5, 10, and 15 to replace worn-out items see Table 2. Cash outflows comprise investment and cash production costs as well as taxes on earnings which considers depreciation expenses for tax purposes.
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Argopecten nucleus (Born, 1778)