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• 1. [Article] Economic Feasibility of Producing Oysters Using a Small-Scale Hawaiian Fishpond Model

  While studies have long examined the economic viability of oyster industries along the Pacific and Atlantic coasts of the mainland United States, Hawai`i has had no industry to speak of in modern times. ...

  Citation × Citation Citation Abstract Copy Title: Economic Feasibility of Producing Oysters Using a Small-Scale Hawaiian Fishpond Model Author: Leung, PingSun, Haws, Maria, Chen, Jessie, Fong, Quentin While studies have long examined the economic viability of oyster industries along the Pacific and Atlantic coasts of the mainland United States, Hawai`i has had no industry to speak of in modern times. This may soon change due to the recent establishment of a long-absent water quality monitoring program required to classify shellfish growing areas. The first oyster farms have been established in traditional Hawaiian fishponds and in one case, clams are being produced in polyculture with shrimp. This potential for a new bivalve market, combined with the twenty-five-year absence of the industry and dearth of literature on the novel use of fishponds for the purpose of oyster farming, provide opportunity for an assessment of economic feasibility of raw oyster production in the state. The State Shellfish Sanitation Plan also differs from those in other states in ways that entail economic costs. For example, in most cases depuration utilizing artificial seawater will be required. In order to address the return to risk, capital, and management, a cost-benefit analysis was conducted with data collected from Hawai`i’s only certified oyster farm. Results show that net return is near the breakeven point, and is highly dependent on the optimal levels of three key variables: oyster mortality rate, market price, and quantity of seed planted. The proposed three-fold expansion has costs reflected primarily in materials and supply expenses. Total costs did not increase three-fold, as a linear relationship would imply, thereby suggesting some economy of scale is present. Title: Economic Feasibility of Producing Oysters Using a Small-Scale Hawaiian Fishpond Model Author: Leung, PingSun, Haws, Maria, Chen, Jessie, Fong, Quentin While studies have long examined the economic viability of oyster industries along the Pacific and Atlantic coasts of the mainland United States, Hawai`i has had no industry to speak of in modern times. This may soon change due to the recent establishment of a long-absent water quality monitoring program required to classify shellfish growing areas. The first oyster farms have been established in traditional Hawaiian fishponds and in one case, clams are being produced in polyculture with shrimp. This potential for a new bivalve market, combined with the twenty-five-year absence of the industry and dearth of literature on the novel use of fishponds for the purpose of oyster farming, provide opportunity for an assessment of economic feasibility of raw oyster production in the state. The State Shellfish Sanitation Plan also differs from those in other states in ways that entail economic costs. For example, in most cases depuration utilizing artificial seawater will be required. In order to address the return to risk, capital, and management, a cost-benefit analysis was conducted with data collected from Hawai`i’s only certified oyster farm. Results show that net return is near the breakeven point, and is highly dependent on the optimal levels of three key variables: oyster mortality rate, market price, and quantity of seed planted. The proposed three-fold expansion has costs reflected primarily in materials and supply expenses. Total costs did not increase three-fold, as a linear relationship would imply, thereby suggesting some economy of scale is present. Close