Economics of Freshwater Prawn Farming in the United States

Transcription

1 SRAC Publiction No November 2005 PR VI Economics of Freshwter Prwn Frming in the United Sttes Siddhrth Dsgupt 1 Freshwter prwn (Mcrobrchium rosenbergii) frming in the United Sttes hs been predominntly smll-scle quculture industry. The U.S. industry strted in Hwii in the 1960s, followed by South Crolin in the 1970s nd Mississippi in the 1980s. Erly ttempts t prwn culture were hmpered by lck of seed stock nd problems in mrketing the end product. During the 1980s nd 1990s, reserchers developed severl elements importnt for the industry s growth, such s improved htchery nd nursery technology, pond culture methods, nd post-hrvest hndling protocols for qulity control nd product preservtion. As result of these nd other efforts, severl successful prwn htcheries nd nurseries hve been estblished in the U.S. nd more domesticlly produced prwns re being mrketed thn ever before. Prwn production in the U.S. In 1998, the sttes of Hwii, South Crolin, Kentucky nd Florid hd the most surfce cres devoted to prwn production. In 2003, Mississippi hd the most wter cres in prwns (600 cres), followed by Tennessee nd Kentucky with 200 cres ech nd 1 Kentucky Stte University, Aquculture Reserch Center, Frnkfort, KY. Albm with 60 cres. There re lso few prwn frms in Arknss, Georgi, Illinois, Indin, Louisin nd Ohio. During the 1980s nd 1990s, 0.2 to 0.4 million pounds of prwns per yer were produced in the U.S. The crop hd n nnul wholesle vlue of $0.89 million to $2.54 million nd the prices for whole prwns pid by processors nd other wholesle buyers rnged from $4 to $7 per pound. The price of Gulf of Mexico mrine shrimp (tils only) declined from $7.00 per pound to $4.50 per pound from 1995 to 2002, which corresponded to n pproximte price rnge of $2.25 to $3.50 per pound for whole prwns. Similrly, the price of imported mrine shrimp tils (comprble in size to freshwter prwns) declined from $7.00 per pound to $4.00 per pound (i.e., $2.00 to $3.50 per pound for whole shrimp). At these prices, U.S. prwn producers could not compete in wholesle mrkets nd retil nd direct sles were their only mrketing options. The freshness of the domestic product ws their min mrketing sset. Prwn production methods Freshwter prwn production occurs in three stges htchery, nursery nd grow-out. In the htchery stge, fertilized dult femle prwns produce 10,000 to 20,000 eggs, which htch into prwn lrve in 3 weeks. Newly htched lrve re kept in brckish wter where they need protein-rich feed such s zooplnkton. After 22 to 30 dys, postlrve cn be stocked in freshwter. The post-lrve re usully nursed for t lest 30 more dys. Then the juveniles re redy to be stocked into ponds for grow-out to dult prwns. The prmeters of prwn production re stocking density (number of juveniles stocked per cre of wter), ge of seed t stocking, feeding or fertiliztion rte (pounds per cre per yer pplied to prwn pond), feed types, nd presence of rtificil substrtes. Prwns re tropicl nimls nd require wter wrmer thn 65 ºF to grow. The growth period from juvenile to mrket-size dult is 4 months (June to September) in temperte regions of the U.S. Pond culture of prwns is done in single nnul btches during the summer nd erly fll. Proper pond mngement is vitl element of production success. Juvenile prwns re usully stocked in lte My or erly June nd fed 32% crude protein sinking feed. Feeding rtes depend on

2 prwn ge nd re vilble from feeding tbles such s the one in D Abrmo et l. (2003). Ponds re usully erted nightly or 24 hours dy. Adult prwns re hrvested by lte September. Stocking densities in commercil ponds hve mostly rnged from 8,000 to 30,000 per cre. Some frmers stock t low densities (8,000 to 10,000 per cre), which is commonly clled extensive or low-input culture. At low densities, prwns re fed t rte of 1,000 to 1,500 pounds per cre per yer. Supplementl ertion my or my not be used. Dt from Kentucky showed tht when ponds were not erted yields were 230 to 400 pounds per cre. Averge yields in erted ponds rnged from 300 to 600 pounds per cre. Mny producers use semi-intensive stocking density (15,000 to 18,000 per cre) nd constnt pond ertion. At this density the feeding rte is 2,500 to 3,000 pounds per cre nd commercil yields typiclly rnge from 400 to 800 pounds per cre per yer. Some producers prctice intensive stocking of more thn 18,000 per cre. Feeding rtes for intensive stocking re 5,000 to 6,000 pounds per cre per yer. Intensive production is usully done in ponds with rtificil substrte formed of plstic mesh (the sme s brrier fence) to crete more living re. Prwns re territoril nd cnniblistic, so instlling substrtes decreses mortlity by llowing the nimls to distribute themselves more widely in the pond. Hving more spce lso llows prwns to grow lrger. Experimentl yields from intensively stocked ponds with substrtes hve been 2,000 to 3,000 pounds per cre; however, commercil yields hve vried from 1,200 to 2,000 pounds per cre. Experimentl vs. commercil production results Although commercil producers hve tried to follow prwn mngement methods developed t quculture experiment sttions in the U.S., smll-scle commercil ponds re usully no mtch for well-supplied nd well-mnged experimentl ponds. Therefore, frm-level production is usully inferior to production t experiment sttions. Tbles 1 nd 2 summrize production dt from commercil nd experimentl sources, respectively, for severl sttes. In both tbles, production hs been segregted by stocking density. From Tble 1, low stocking densities (8,000 to 10,000 per cre) typiclly produce 200 to 700 pounds per cre, while experimentl results for low stocking densities hve produced bout 800 pounds per cre (Tble 2). Low stocking densities in experimentl ponds lso resulted in lrge dult prwns eight nimls per pound or 8-count whole prwn while commercil hrvest weights were pproximtely 12 per pound or 12-count. There were similr results for semi-intensive stocking densities. Commercil yields (500 to 800 pounds per cre) triled behind experimentl yields (900 to 1,000 pounds per cre). Posds (2004) highlighted cses in which commercil yields under semi-intensive nd extensive production were similr, despite the lmost two-fold stocking difference. The reson ws tht semi-intensive stocking densities produced smller prwns (14-count verge size) thn extensive production (8-count verge size). Yield equls the number hrvested per cre multiplied by the verge size. Intensive stocking in experimentl ponds hs often produced yields of more thn 2,000 pounds per cre when rtificil substrtes were used (Tble 2). These yields offset the high production costs nd result in low brek-even prices. Intensive stocking is less common in commercil ponds, lthough yields hve exceeded 1,000 pounds per Tble 1. Prwn production dt from commercil frms in the United Sttes. FCR stnds for feed conversion rtio. Stocking density Averge yield Survivl rnge Averge size Stte (number/cre) FCR (lb/cre) (verge % survivl) (number /lb) KY 8,000 10,000 Not vilble (210) (28) 12 KY 12,000 17,000 Not vilble (580) (56) 14 KY 19,000 22,000 Not vilble 330 1,292 (964) (47) 10 IL 6,000 10, : (638) Not vilble Not vilble IL 14,000 16, : (592) Not vilble Not vilble IL 20, :1 300 Not vilble Not vilble OH 15,789 16,204 17: (32) OH 19,427 18: MS 10,000 18,000 Not vilble 750 1,100 (775) (66) Only one dt point.

3 Tble 2. Prwn production dt from experimentl ponds in the United Sttes. Stocking density Averge yield Averge size Stte (number/cre) FCR (lb/cre) Averge % survivl (number /lb) KY 8, : KY 16, : KY 22,000 25, :1 2, MS 8, : MS 15, : TN b 16,000 Not vilble 910 1, TN 20,000 24,000 Not vilble 1,137 1, These experiments used rtificil substrtes with surfce re equivlent to 50 percent of the pond bottom re. b Informtion obtined from the University of Tennessee (Hill et l., 2003). cre in some cses nd been comprble to extensive nd semiintensive yields in other cses. While the potentil returns re high, the operting cost is lso high, mking intensive stocking less ttrctive to some smll-scle producers. Frm level economics Site selection, pond construction nd wter supply Lnd costs vry widely, s do pond construction costs, which cn be s high s $5,000 per wter cre. In trditionl quculture regions of the U.S., however, pond construction cost is $1,200 to $3,000 per wter cre. Ponds used for prwn frming re usully smll, less thn 2 cres. Feed cn be distributed more uniformly in smll pond thn in lrge one, which is importnt becuse prwns, unlike ctfish, do not congregte t feeding sites. Some producers culture prwns for supplementl income by dpting existing frm ponds to quculture. However, experience hs shown tht ponds built for prwn production (with ctch bsins) re esier to mnge nd hrvest nd yield more prwns thn typicl frm ponds (Tidwell et l., 2002). Well wter is best for quculture. If smll ponds must be filled from strems nd creeks, the wter should be screened to keep out predtory fish nd treted to remove pollutnts before prwns re stocked. Equipment Equipment needed for prwn frming includes electric ertors, 5-hp wter pump, feed storge re, wter qulity kit, dissolved oxygen meter, hrvesting equipment, pickup truck, mower, nd rtificil substrtes (Tble 3). Hrvesting nd holding equipment includes seines, bskets, tnks nd oxygen cylinders. Growers who use lrge ponds lso might need feed brodcsting equipment nd severl vehicles. The cost of rtificil substrte is mjor expense in prwn frming. Ornge construction fence, stndrd substrte mteril, costs $22 per roll in Kentucky nd one roll mkes 400 squre feet of fence. Ninety-one rolls of this fence re required to provide 0.5 cre of dditionl surfce re in 1-cre pond. Tble 3 outlines the cost of purchsing nd instlling enough rtificil substrte to increse pond s surfce re by 50 percent. Electric in-pond ertors re usully dequte for supplementl ertion, but PTO-powered ertor might be hndy to hve for emergencies. Reserch shows tht sufficient ertion is chieved t the rte of 1 hp per wter cre. Mny producers use 1-hp pddlewheel ertors tht typiclly cost $500 to $700 nd hve 3- to 5-yer lifespn. Ctfish-type pddlewheel ertors (5- to 10-hp) re more expensive ($3,000 to $6,000) nd re usully not used. Fixed costs Fixed investments in quculture frms (lnd, ponds/tnks, nd equipment) re listed in Tble 3. A smll-scle prwn frm with single 1-cre pond is estimted to need pproximtely $10,500 for these costs (excluding substrtes). Shring resources mong severl ponds reduces the per-cre fixed cost (e.g., $8,500 for frm with two 1-cre ponds, $7,891 for frm with three 1-cre ponds, etc.). Posds (2004) estimted tht the fixed cost of operting 25 2-cre ponds would be bout $5,000 per cre (using Mississippi dt). Fixed costs occur during strt-up nd during pond nd equipment renovtion or replcement. However, they cn be evluted on n nnul bsis by depreciting equipment nd clculting the interest ssocited with the fixed investment. To clculte deprecition one must know the initil vlue, slvge vlue, nd lifespn of ech deprecible sset. We ssumed tht lnd ws vlued t $1,000 per cre nd did not deprecite, nd tht the slvge vlues for 1-cre pond nd equipment were $3,000 nd $0, respectively. Hence, the fixed investment vlues in Tble 3 result in totl nnul fixed cost, for smll-scle

4 Tble 3. Pond, equipment, nd other fixed costs in smll-scle prwn frm. Item Life spn Annul (yers) Cost ownership cost Pond size 0.25 cre 10 $1,630 $ cre 10 $2,630 $ cre 10 $4,130 $ cre 10 $5,130 $ hp pddlewheel ertor 3 $500 $ hp wter pump 5 $540 $ Holding tnks 10 $800 $ Seine 5 $450 $ Wter qulity kit 5 $179 $47.22 Dissolved oxygen meter 10 $715 $ Property tx $8.50 Use of truck, mower & storge shed 10 $970 $ Artificil substrtes b for 0.25-cre pond 5 $726 $ cre pond 5 $1,325 $ cre pond 5 $1,925 $ cre pond 5 $2,505 $ A smll prwn frm requires t lest two 400-gllon polyethylene tnks. b The cost of rtificil substrtes includes instlltion. Kentucky prwn frm, of $1,699 without substrte nd $2,360 with substrte. Vrible costs Vrible costs include the cost of seed, feed or fertilizer, energy (electricity, gsoline or diesel), chemicls, lbor nd mngement, telephone, dvertising, legl permits, mintennce, etc. Tble 4 lists pproximte vrible costs, bsed on current dt from Kentucky nd Mississippi, for three different production systems. Seed nd feed costs increse s the intensity of production increses, while other costs remin firly stble. The stocking cost depends on both the seed price nd the stocking density. Producers generlly stock 30- to 60-dy-old nursed, juvenile prwn; few stock post-lrve t higher densities, fter ccounting for 30 to 50 percent post-stocking mortlity. Recently the price of juveniles hs rnged from $0.07 to $0.12 per hed in Kentucky. This price is dependent on juvenile ge, whether or not the juveniles were size grded (reserch hs shown tht t higher densities, stocking juveniles of uniform size results in more uniformly sized dult prwn), nd the huling distnce between the nursery nd the frm. Reserch lso hs shown tht older juveniles (e.g., 60-dyold nimls) hve higher survivl rte thn younger juveniles (e.g., 30-dy-old nimls). In 2004, juvenile prices in Mississippi were pproximtely $0.045 per hed (Posds, 2004). Tble 4 shows tht the stocking cost is 20 to 40 percent of vrible cost, so the price of juveniles will hve significnt effect on totl cost. Feeding cost is proportiontely less thn stocking cost. Feeding rtes for extensive nd semiintensive opertions usully follow the feed tbles recommended by D Abrmo nd Brunson (1996) (see SRAC publiction # 484 for dditionl detils). The feeding rtes for intensively stocked ponds, found in Tidwell et l. (2002), re higher thn those in D Abrmo nd Brunson (1996), not exceeding 60 to 75 pounds per cre per dy. The lbor nd mngement cost ws $6.00 per hour for 1-cre pond in Kentucky. Lbor cost in Mississippi ws substntilly lower becuse there were 50 cres in production, resulting in economies of scle. In most smllscle frming, lbor nd mngement re provided by the frm fmily nd re not csh costs. However, lbor nd mngement re opportunity costs nd should not be ignored in computing totl cost. The chemicls needed for prwn frming typiclly include griculturl lime, pond fertilizers nd rotenone. Legl fees typiclly involve purchsing n nnul propgtion permit from stte government gency for fish nd wildlife. Mrketing costs, which include dvertising the hrvest dte nd frm loction in the locl medi, pply primrily to producers who sell prwns directly to consumers. Advertising costs for wholesle sles would be miniml. Brek-even prices Brek-even prices were developed bsed upon 1) smll prwn frm with single 1-cre pond in Kentucky, nd 2) mediumsize to lrge prwn frm with 25 2-cre ponds in Mississippi (Posds, 2004). Commercil dt indicte tht the size of prwn frms vries widely. The verge frm size in Kentucky is 0.86 wter cres, with rnge of 0.05 to 5 wter cres. The brek-even price is the totl cost (the sum of

5 Tble 4. Operting costs of single 1-cre pond under three stocking densities in Kentucky nd Mississippi. Costs re bsed on 2003 prices. Some Kentucky costs re derived from Dsgupt nd Tidwell (2003); Mississippi costs cme from Posds (2004). Item Extensive Semi-intensive Intensive,b Kentucky Mississippi Kentucky Mississippi Kentucky Juveniles c $800 $360 $1,600 $720 $2,400 Feed d $254 $318 $528 $363 $1,105 Electricity $316 $129 $316 $129 $316 Fuel $95 $117 $95 $117 $95 Chemicls $61 $104 $61 $104 $61 Lbor nd mngement $1,275 $319 $1,275 $319 $1,275 Mintennce $169 $229 $169 $229 $169 Ice $104 $50 $127 $50 $316 Oxygen $17 $0 $17 $0 $17 Telephone & dvertisement $100 $50 $100 $50 $100 Huling $0 $47 $0 $47 $0 Legl fees & miscellneous $50 $25 $50 $25 $50 Interest on operting cost $100 $58 $115 $72 $171 Totl $3,341 $1,806 $4,453 $2,239 $6,075 Extensive, semi-intensive nd intensive stocking rtes re 8,000, 16,000 nd 24,000 juveniles per cre, respectively. b Mississippi dt for intensive stocking with rtificil pond substrte were unvilble. c Assumed juvenile prices re 10 nd 4.5 per hed for Kentucky nd Mississippi, respectively. d Assumed feed prices re $120 per ton (distiller s grins), $350 per ton (32% crude protein diet), nd $500 per ton (40% crude protein shrimp diet) for Kentucky nd $250 per ton (32% crude protein diet) for Mississippi. fixed nd vrible costs) divided by output volume. Using cost dt from Tbles 3 nd 4, the totl nnul cost of prwn frming in Kentucky, bsed upon single 1-cre pond, ws $5,040 for extensive production, $6,152 for semi-intensive production, nd $8,435 for intensive production. Posds (2004) indictes tht the totl cost (per cre) for Mississippi prwn frms ws lmost 50 percent less (Tble 5). Tble 5 shows production costs, yield nd brek-even prices for three stocking densities using dt from Kentucky nd Mississippi. Survivl rtes represented poor (40 percent), medium (60 percent) nd good (80 percent) yers of production. The verge survivl rte in Kentucky s commercil prwn ponds in 2002 ws 45 percent, with rnge of 7 to 86 percent. The price of juveniles ws $0.10 per hed in Kentucky nd $0.045 per hed in Mississippi. Tble 5 lso shows brek-even prices with respect to totl operting cost, vrible costs nd totl cost. Totl operting cost includes only csh expenses relted to stocking, feeding, energy, etc. It excludes expenses ssocited with lnd, ponds nd equipment nd it discounts noncsh operting costs such s unpid lbor nd mngement. A typicl smll-scle frmer selling t this brek-even price will not be ble to finnce pond construction, equipment purchse, or the vlue of lbor nd mngement supplied by fmily members nd friends. The brek-even price computed with respect to totl vrible cost does ccount for the vlue of lbor nd mngement; however, this brek-even price is not enough for frmer to py for lnd, ponds nd equipment. The brek-even price with respect to totl cost is sufficient to cover ll operting (csh nd non-csh) nd fixed expenses. While frm cn survive in the short term by selling prwns t the brek-even price, long-term success requires greter return. Tble 5 shows tht it is cheper to culture prwns in Mississippi thn Kentucky. It lso shows tht while the brek-even price bove csh costs nd vrible costs remins below $3.50 per pound for some scenrios, the brekeven price bove totl cost is consistently bove $3.50 per pound (except for the semi-intensive stocking nd 80 percent survivl scenrio in Mississippi). This

6 Tble 5. Brek-even prices clculted t three stocking densities using dt from Kentucky nd Mississippi. Loction Kentucky Mississippi Stocking density 8,000/c 16,000/c 24,000/c 8,000/c 16,000/c Annul yield (lb/c/yr) 40% survivl % survivl , % survivl , Operting csh costs ($/c) $2,032 $3,165 $4,783 $1,487 $1,920 Vrible costs ($/c) $3,341 $4,453 $6,075 $1,806 $2,239 Totl cost ($/c) $5,040 $6,152 $8,435 $2,655 $3,088 Brek-even prices clculted with respect to Operting csh costs: 40% survivl $7.62/lb $6.92/lb $4.98/lb $5.58/lb $4.20/lb 60% survivl $5.08/lb $4.62/lb $3.32/lb $3.72/lb $2.80/lb 80% survivl $3.81/lb $3.46/lb $2.49/lb $2.79/lb $2.10/lb Vrible costs: 40% survivl $12.51/lb $9.74/lb $6.33/lb $6.77/lb $4.90/lb 60% survivl $8.35/lb $6.49/lb $4.22/lb $4.52/lb $3.27/lb 80% survivl $6.27/lb $4.87/lb $3.16/lb $3.39/lb $2.45/lb Totl cost: 40% survivl $18.88/lb $13.46/lb $8.79/lb $9.96/lb $6.76/lb 60% survivl $12.60/lb $8.79/lb $5.86/lb $6.64/lb $4.50/lb 80% survivl $9.45/lb $6.73/lb $4.39/lb $4.98/lb $3.38/lb Yield ws clculted bsed on the ssumption tht the verge hrvest size ws 12 per pound, 14 per pound, nd 10 per pound for the 8,000, 16,000 nd 24,000 per wter cre stocking densities, respectively. Posds (2004) reported n verge hrvest size of 8 per pound t 8,500 per cre stocking density, but this result ws not supported by results from commercil low-density culture in Kentucky. indictes tht while prwns could be sold t wholesle prices to cover operting expenses, erning profit in the long run will require higher prices. Posds (2004) described scenrios in which the brek-even price bove totl cost ws less thn the wholesle price for medium-sized mrine shrimp, nd in which lowdensity stocking generted greter profit thn more intensive stocking. However, these outcomes were skewed by higher thn usul survivl (more thn 80 percent) nd lrger thn norml verge sizes (eight per pound t stocking density of 8,500 per cre). These scenrios were too specilized to reflect the typicl producer. Lower input prices were prtly responsible for mking prwn culture less expensive in Mississippi thn in Kentucky. However, the Mississippi brek-even prices lso reflected the economies of scle of the 50-wter-cre prwn frm (Posds, 2004). Since the Mississippi frm size ws n extrpoltion, nd not representtive of typicl prwn frms in the stte, similr extrpoltion is required for Kentucky. To ddress this issue, we ssume hypotheticl Kentucky frm with 50 1-cre ponds where prwns re intensively stocked. Economies of scle clcultions reduce the per-cre fixed cost from $2,360 to $1,627, ssuming tht there ws one wter pump, two holding tnks, nd one seine for every ten ponds. Lbor nd mngement costs per cre lso diminish from $1,275 to $312 (four lborers nd mnger working 4 hours dy for 160 dys nd n dditionl 4 hours per pond for hrvesting). This reduces the totl cost per cre of intensive production from $8,435 to $6,631 nd yields brek-even prices over totl cost of $6.90 per pound, $4.61 per pound, nd $3.45 per pound for 40 percent, 60 percent, nd 80 percent survivl, respectively.

7 Prwn output prices The prices producers receive for hed-on prwns depend on the buyers wholeslers, retilers, resturnts or consumers. Wholeslers nd processors py $4 to $7 per pound (Posds, 2003). A few wholesle buyers in Kentucky nd Tennessee hve pid from $4.50 to $5.50 per pound in recent yers. Retil, resturnt nd direct mrket prices re higher ($6 to $8 per pound in Kentucky) nd more voltile thn wholesle prices, but smller volume is purchsed by these buyers. Some producers re processing prwns into frozen tils to extend the mrketing seson. The brekeven price of frozen tils is generlly twice the brek-even price of whole prwns plus $1 per pound to cover processing costs. As the freshwter prwn industry mtures, prices will likely be differentited by size (similr to mrine shrimp), which should help producers mke pproprite, mrket-driven production choices. Results from economic models The question of which production method is most profitble ws nswered using commercil dt collected from Kentucky prwn growers during Averge weight t hrvest incresed when substrtes were used nd decresed s stocking density incresed. Survivl rte incresed if substrtes were used. Also, verge profit incresed s stocking density incresed, provided producers could sell their totl output (which lso incresed with stocking density). If producer invested in single 1-cre pond nd equipment to rise prwns intensively over 10-yer period, nd hd survivl rte of 40 to 60 percent, the growth on the investment would be bout 10 percent per yer provided juveniles were purchsed t $0.07 per hed nd dult prwns were sold t $5.50 per pound. Conclusions Budgets for freshwter prwn production usully seem to underestimte the totl costs of production. This hs encourged some producers to sell prwns t prices tht result in profits with respect to their operting costs nd losses with respect to their totl cost. Producers should consider ll costs before determining the profitbility of their opertions. A quick review of brekeven prices indictes tht most prwn producers relize profit only when they cn sell to retil outlets nd resturnts or directly to consumers, so they would be wise to focus on developing locl mrkets where they cn cpitlize on delivering fresh, or live, product. The Posds (2004) report tht low-intensity prwn production in Mississippi resulted in brekeven price tht ws less thn the wholesle price for lrge mrine shrimp must not be ignored. Although this scenrio hinged on typiclly high survivl (more thn 80 percent) nd lrge verge weight (eight prwns per pound or fewer), this technology my hve potentil for generting profits in wholesle mrkets. Future reserch should investigte the combined effect of economies of scle, verticlly integrted systems, nd other production methods tht promote consistently high survivl rtes on the size distribution nd production cost of freshwter prwns. Sources of informtion D Abrmo, L. R., C. L. Ohs, M. W. Fondren, J. A. Steeby nd B. C. Posds Culture of Freshwter Prwns in Temperte Climtes: Mngement Prctices nd Economics. MAFES Bulletin 1138, Mississippi Stte University, Mississippi Stte, MS. D Abrmo, L. R. nd M. W. Brunson Production of freshwter prwns in ponds. Southern Regionl Aquculture Center. Publiction # 484. Stoneville, MS. Dsgupt, S. nd J. H. Tidwell A brekeven price nlysis of four hypotheticl freshwter prwn, Mcrobrchium rosenbergii, frms using dt from Kentucky. Journl of Applied Aquculture, (14): Hill, T. K., A. B. Gllowy nd J. L. Wilson Economic opportunities with freshwter prwn in Tennessee. Bulletin Agriculturl Extension Service, University of Tennessee, Knoxville, TN. Kzmierczk, R. nd P. Soto Stochstic economic vribles nd their effect on net returns to chnnel ctfish production. Aquculture Economics nd Mngement 5 (1/2): Posds, B. C Costs of Producing Freshwter Prwns in Mississippi Ponds. Pper presented t the U.S. Prwn nd Shrimp Growers Assocition Meeting, Tunic, MS, Jnury Posds, B. C U.S. production of Mcrobrchium species. Mississippi Stte University Costl Reserch nd Extension Center, Biloxi, MS. Tidewell, J. H., S. Coyle, R. M. Durborow, S. Dsgupt, W. Wurts, F. Wynne, L. A. Bright nd A. VnArnum Growout of freshwter prwns in Kentucky ponds. Kentucky Stte University, Aquculture Reserch Center, Frnkfort, KY.

8 SRAC fct sheets re reviewed nnully by the Publictions, Videos nd Computer Softwre Steering Committee. Fct sheets re revised s new knowledge becomes vilble. Fct sheets tht hve not been revised re considered to reflect the current stte of knowledge. The work reported in this publiction ws supported in prt by the Southern Regionl Aquculture Center through Grnt No from the United Sttes Deprtment of Agriculture, Coopertive Stte Reserch, Eduction, nd Extension Service.