Bioeconomic Modelling Of Hard Clam Growout In Florida : The Replacement Decision

The productive capacity, capital requirements and labor intensity of the hatchery and nursery phases of hard clam aquaculture make them less suitable than growout culture for operations owned, managed, and worked by a single individual. The research presented focuses on growout culture. Management options for hard clam growout include the selection of seed size, choice of planting method, clam density and replacement scheduling. A decision to undertake hard clam growout aquaculture in Florida requires knowledge of production systems, sources of risk, the effects of risk on operation design and replacement scheduling, and estimates of the costs and returns of hard clam growout under risk. The specific objectives of this research project were to: (1) develop a bioeconomic model of Florida hard clam growout; and (2) generate cost and return estimates of hard clam growout under different scenarios of growth and price variability to provide insights to optimal operation design and management.