INTEGRATED MULTI − TROPHIC AQUACULTURE (IMTA): A POTENTIAL STRATEGIC CHOICE FOR FARMERS

Integrated multi-trophic aquaculture is one approach to mitigate ecological effects of finfish mariculture, and its benefits are prompting increased interest among researchers and commercial growers worldwide. A project in the Bay of Fundy in eastern Canada has demonstrated the biological and technical feasibility of integrated multi-trophic aquaculture, with uniformly positive results. This paper examines its economic and social implications. Capital-budgeting results suggest that using the waste of one crop as feed for another can increase profits. Scenario analysis also indicates that financial risks are reduced if weather-related or market risk for the various species are not correlated. Surveys indicate a positive perception towards integrated multi-trophic aquaculture by the public, which should assist integrated multi-trophic aquaculture applicants for site licences, and perhaps reduce litigation and lobbying by aquaculture opponents.