Economic feasibility study of organic and conventional fish farming systems of Indian major carps

Abstract

Abstract Organic aquaculture is a new approach in the modern farming system. As the capital investment is higher for setting up the organic aquaculture, it is essential to conduct an economic feasibility study with compare the conventional farming system. In the current study, economic feasibility of culturing Indian major carps (IMC) using conventional culture system and organic culture system (OCS) were evaluated. IMC was cultured for three consecutive years from 2017 to 2019 in experimental ponds of 0.015 hectare (ha) area each. The crude protein content of the organic and conventional feed was maintained at the same iso-nitrogenous level (32% crude protein) but the highest production to the tune of 19 tons per ha was obtained in OCS. Further, in case of OCS, apart from fish production, vermicomposting to the tune of 45,000 kg ha−1 in the first year, and 90,000 kg ha−1 from second year onward is achievable by installing a vermicomposting unit of 200 tons annual capacity. Economic analysis of the culture systems assuming a project period of 10 years showed that the highest net present value (NPV) of 1.06 million USD, a payback period of one year and nine months and an internal rate of return (IRR) of 51% are achievable per ha of fish culture pond for OCS. Sensitivity analysis of various costs performed for OCS revealed that profitability of the organic fish farming investment is most sensitive to the total fish production and sale price of the organic fishes. In terms of production of fish and economics of organic culture system is proved to be the best available technique.