Economic feasibility analysis of recirculating aquaculture systems for turbot ( <i>Scophthalmus maximus</i> ) farming: A case study of Qingdao in China

The recirculating aquaculture system (RAS) is a crucial avenue for the sustainable development of the turbot aquaculture sector, with its economic viability being a primary concern for the business. This study, based on a fixed price of 6.91USD per kilogram, intends to systematically elucidate the economic principles governing turbot farming within an RAS, utilizing farm survey data, literature, and financial analysis models. The primary research findings comprise: initially, in selecting the culture strategy, the variable cost of the sequential-batch culture strategy is 68.57%, indicating a more favorable cost structure. The break-even point is considerably lower than that of the single-batch culture strategy, demonstrating enhanced profitability and resilience against risks. Secondly, regarding feeding management, the selected strain of turbot, when provided with a standard diet, can yield optimal economic benefits, with a cost-profit ratio reaching 57.34%. Thirdly, the examination of cultured size and cycle indicates that enlarging the aquaculture scale and designating 20 years as the project’s entire life cycle can yield substantial long-term advantages. Sensitivity analysis ultimately indicates that fish price and feed price are the two variables exerting the most significant influence on the profitability of aquaculture ventures. This study demonstrates through cost-benefit analysis that the sequential-batch culture strategy offers greater economic advantages, thereby providing a basis for farmers in selecting culture and feed strategies, and serves as a guide for promoting the sustainable development of turbot RAS culture.