Economics of Aquaculture United States :: essays papers

Economics of Aquaculture unite States Aquaculture is the fastest growing rustic industry in the United States. In 1990, there were over deoxycytidine monophosphate species cultured eight species accounted for approximately 70% of total culture, with over 3400 aquaculture trading operations in the United States. This trend is driven by change magnitude prerequisite for fisheries product and reduced yield from traditional fisheries landings (National Research Council, 1982). Given the increased demand, there is a significant potential for job creation in an expanded aquacultural industry. The estimated U.S. Total Aquaculture Production (including freshwater) has more than doubled from 139,887 metric function tons with a total hold dear of over $260 trillion in 1983 to an estimated 313,518 metric tons with a total value of over $724 million in 1992. (NMFS Statistics Division) The aquaculture industry supports an infrastructure of hatcheries, feed mills, processing plan ts, equipment manufacturers, and suppliers of specialty go and products, as well as enhancing the natural piscary with juvenile finfish and shellfish seed and spat. U.S. annual per capita consumption of fish and shellfish has increased since estimates were counterbalance made in 1909. At that time the per capita estimate was 11 lbs., in the 1950 and 60s it was well below 5 lbs., and in 1993 it was 15 lbs. (U.S. Department of Commerce, 1993). most(prenominal) remarkable was the sharp rise in consumption from 1970 (about 4 lbs.) to 1990 (about 5 lbs.) The domesticated seafood industry has identified a goal of increasing domestic seafood consumption to 20 lbs/per capita by the year 2000 although this appears unlikely. It is estimated that 10% - 14% of the fishery products currently consumed in the United States are aquaculturally derived. Changing consumer preferences combined with the reduction in the wild fishery appear to be the dominant factor out in the growth of aquaculture. (FDA, 1990) Most of the United States demand for seafood is met by imports. The value of imported fisheries products more than doubled during the 1980s, to $9.6 billion in 1989. This resulted in a significant trade dearth - $4.9 billion for all fisheries products and $3.1 billion for digestible fish and shellfish in 1989. Imported fisheries products contribute more to the United States trade imbalance than any other food or rude commodity. After petroleum products, imported seafood contributes more to the United States trade deficit than any other natural resources product.