Perspective development of new species in Latvian aquaculture
2016
Veveris, A., Latvia Univ. of Agriculture, Priekuli, Priekuli parish, Priekuli Municipality (Latvia). Inst. of Agricultural Resources and Economics | Hazners, J., Latvia Univ. of Agriculture, Priekuli, Priekuli parish, Priekuli Municipality (Latvia). Inst. of Agricultural Resources and Economics | Benga, E., Latvia Univ. of Agriculture, Priekuli, Priekuli parish, Priekuli Municipality (Latvia). Inst. of Agricultural Resources and Economics
The present paper studies the economic feasibility of certain new species in aquaculture and the market potential for their breeding in Latvia. Aquaculture is a rapidly developing industry in the world. Its volumes are increasing also in Latvia; however, there are few species that are bred in large volumes. Therefore, there exists an essential need for research on the species suitable for breeding. Aiming at studying the economic and market potential of particular less bred species, tilapias, chars, sturgeons and shrimps were selected for this research. The research involves methods of economic analysis. The balance method was applied to analyse the markets for the researched species. A semi-quantitative method – McKinsey matrix – was applied to determine the potential export markets. McKinsey matrix was developed for particular species of fish on regional markets identified in advance. The performed analysis provides a basis for concluding that breeding of sturgeons (Siberian and Russian sturgeons, sterlets and bester fish), chars as well as shrimps (L.Vannamei) has a potential in Latvia and that these fish should be included in the list of supported aquaculture products. At the same time, taking into consideration that most of the consumers do not recognize these products, there is a need for promotional activities. Collaboration with foreign companies to acquire the export markets has a perspective regarding this. The potential for breeding tilapias has not been justified due to the market situation in Europe (availability of cheap mass product) and the comparatively high production costs in Latvia.
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