The goal of MedAID is to increase the overall competitiveness and sustainability of the Mediterranean marine fish-farming sector throughout the whole value chain. In this context, the MedAID Project Work-package 6 (Improving business performance and development of strategic marketing plans), through the Task 6.5 “Estimation of the economic impact of improvements in production and marketing” aims to analyze the economic impact at the micro (firm/farm) level of some specific measures in the production and marketing areas to improve the financial performance of the European seabass and gilthead seabream aquaculture industry.
To carry out this analysis, we have designed a deterministic static model programmed with the spreadsheet Excel, which we have named MedAID Model for Economic Simulation (MMES), to simulate the annual income statement of an aquaculture facility (firm or farm). The model simulates in an independently way a grow-out facility for growing up seabass and seabream as well as a hatchery-nursery facility to culture seabass and seabream fry and larvae in the Mediterranean Sea. To obtain the baseline values of model parameters, we have used data from representative facilities from six European countries (Croatia, Cyprus, France, Greece, Italy, and Spain) collected in the survey conducted in MedAID’s WP1.Continue reading