Economic Situation of Fish Farming in Southeastern Coast of the Black Sea

Abstract

Aquaculture industry, like most other industries, has a very powerfull correlation with the economical domain. Being an economic activity that generates profit, practicing fish farming aims profit maximization. The present study gives information regarding the economical indicators and also makes a cost structure analysis of five groups of fish farms from Southeastern Coast of the Black Sea: homestead fish farms, small scale fish farms, middle scale fish farms, big scale fish farms and floating cages. The fish farms were classified in this way by their production capacity. In order to collect data, the most representative fish farms for each group were selected and face to face interviews were made for every one of them. Data related to their source of financing, initial investment, labour costs, selling prices, feed costs and other operational costs were collected, arranged, structured and analyzed and a series of economic indicators as gross production value, gross margin, breakeven quantity, specific investment, profit, profitability ratio, rate of return or labour productivity were calculated. As a result, it was observed that fish production capacity has a big influence over the rate of return, middle scale fish farms being the most profitable, followed closely by small scale fish farms.

Keywords

• aquaculture industry
• cost structure analysis
• economical indicators
• fish production capacity
• rate of return
• southeastern coast of the black sea