Simulating the economic viability of Nile tilapia and Australian redclaw crayfish polyculture in Yucatan, Mexico

Abstract

Tilapia culture in rural communities in the state of Yucatan, Mexico, has been increasing in recent decades. Polyculture of tilapia with other more commercially valuable species provides an opportunity to substantially improve the economic yields of rural producers. The economic viability of implementing Nile tilapia with Australian redclaw crayfish in polyculture was analyzed using profitability indicators such as internal rate of return (IRR) and net present value (NPV). A bioeconomic model was developed to simulate three production densities, accounting for investment recuperation in time horizons of 5, 10 and 15 years. Simulations showed a notable improvement in profitability when farms adopt the polyculture strategy, particularly over the 5-year horizon. Nile tilapia with Australian redclaw crayfish polyculture shortens investment return time and buffers risk related to changes in tilapia sale price. Of the three studied polyculture combinations the optimum outcome was achieved with medium redclaw crayfish density. (c) 2006 Elsevier B.V. All rights reserved.