Use of wild fish and other aquatic organisms as feed in aquaculture; a review of practices and implications in the Asia Pacific

Global and Asian aquaculture have witnessed a ten-fold increase in production from 1980 to 2004. However, the relative percent contribution to production of each of the major commodities has remained almost unchanged. For example, the contribution of freshwater finfish has declined from 71 to 66 percent in Asia but has remained unchanged globally over the last 20 to 30 years. This fact has dictated trends in the use of fish as a feed for cultured stocks. The growth in the sector has gone hand in hand with an increasing dependence on fish as feed, either directly or indirectly. In a number of countries in the Asia-Pacific region, the aquaculture sector has surpassed the capture fisheries sector in its respective contributions to the gross domestic product (GDP). Aquaculture’s increased contribution to national GDPs can be taken as a clear indication of the contribution of the sector to food security and poverty alleviation. The use of finfish and other aquatic organisms as a feed source can be through direct utilization of whole or chopped raw fish in wet form, through fishmeal and fish oil in formulated feeds, and/or as live fish, although the latter is uncommon and the overall amounts used are relatively small. In the first two categories, the fish used are often termed “trash fish/low-value fish”. Although attempts have been made to define this term, all definitions have a certain degree of ambiguity and/or subjectivity. In this regional review, the amount of fish used as feed sources based on the above categories was estimated primarily from the production data, supported by assumptions on the inclusion levels of fishmeal in formulated feeds and observed feed conversion efficiencies for both formulated feeds and for stock fed trash fish/low-value fish directly. A scenario for the use of fish as feed was developed by starting from the levels of aquaculture production recorded in 2004 and assuming increases in production volumes of 10, 15 and 20 percent by 2010, respectively, for the three trajectories. In parallel, the pattern of wild fish use as feed was projected to change as fish and shrimp farmers increasingly replace farmmade feeds by incorporating trash fish/low-value fish with manufactured feeds that include fishmeal. Also, the fishmeal inclusion rates in manufactured feeds are falling slowly, and this has been incorporated into the projections. The regional review also deals with the production of fishmeal using trash fish/low-value fish in the Asia-Pacific region. Regional fishmeal production as a whole is relatively low when compared with that of major fishmeal-producing countries such as Chile, Iceland and Norway, amounting to approximately 1 million tonnes per year. However, there is a trend towards increasing the use of fish industry waste, such as from the tuna canning industry in Thailand. The fishmeal produced in the region is priced considerably lower than globally traded fishmeal, but its quality is poorer. Total fishmeal use in Asian aquaculture in 2004 was estimated as 2 388 million tonnes, the highest proportion of this being used for crustacean aquaculture (1 418 million tonnes). Based on growth predictions (to year 2010) in the sector and improvements to feed quality and management, it is expected that the quantity of fishmeal used in Asian aquaculture will be slightly less than at present. An estimated 240 000 tonnes of fish oil is used in Asian aquaculture, principally in shrimp feeds. Based on production estimates of commodities in 2004 that rely on trash fish/low-value fish as the main feed source, this regional review suggests that Asian aquaculture currently uses between 2 465 and 3 882 million tonnes, an amount that is predicted to decrease to between 1.890 and 2 795 million tonnes by 2010. The use of trash fish/low-value fish and fishmeal by the aquaculture sector has been repeatedly adjudicated as a non-sustainable practice, and globally the sector is seeking to reduce its dependence on fish as feed through improved feed management practices and development of better quality feeds and feed formulations using alternative ingredients. Over the next few years, decreases in the use of trash fish/low-value fish are also expected to be achieved through better conversion of raw materials into fishmeal and fish oil during the reduction processes. The “way forward” in addressing the issue of the use of fish as feed in aquaculture in the Asia-Pacific region includes the need for a concerted regional research thrust to reduce the use of fish as feed sources in aquaculture, as has been achieved in the animal husbandry sector. Secondly, there is a need to increase farmer awareness on the use of trash fish as feed. This is achievable, considering the similar progress that has been made by the region’s shrimp farming sector, which almost exclusively involves small-scale practitioners who are often clustered in a given locality. The analysis also suggests that the use of trash fish/low-value fish in aquaculture may be compatible with improving food security and alleviating poverty. In Asia, trash fish/low-value fish is mostly landed in areas where there are other suitable fish commodities for human consumption. To make the trash fish/low-value fish suitable and available for human consumption would involve some degree of value-adding and transportation costs, which are likely to increase the price to beyond the means of the consumer, particularly in remote rural areas. Under such a scenario, the direct or indirect use of this perishable resource as a feed source to produce a consumable commodity appears to make economic sense and appears to be the most logical use for overall human benefit. In this manner, trash fish/low-value fish contributes to food security by increasing income generation opportunities and hence contributes to poverty alleviation. Another factor that needs to be taken into account is the large numbers of artisanal fishers who harvest this raw material. The continued use of trash fish/low-value fish, therefore, allows these fishers to maintain their livelihoods¹. Admittedly, this is an area that warrants more detailed investigation, from resource use, livelihoods and economic viewpoints.

New Zealand and its competitors in the knowledge economy

In the US, Australia, the United Kingdom, Canada, Finland, Ireland and other countries, the growth of the Internet and other related new technologies have become the catalyst for the creation of ‘knowledge economies’. The new information and communication technologies have created global markets for goods and services. Countries that have encouraged their people through education and life-long learning and by investing heavily in research and development (R&D) are well positioned to take advantage of these new global markets. Along with globalisation has come the death of distance. Thanks to the Internet, New Zealand is no longer remote from the rest of the world.

But New Zealand’s economy is still too dependent on producing commodities for export. While efforts over the last fifteen years to diversify markets have been very successful, we still need to expand our limited range of products. We must take the next important step and transform New Zealand from a pastoral economy into a knowledge-driven economy. For New Zealand, the Internet is the modern equivalent of the freezer ship that revolutionised our economy last century. If New Zealanders do not seize the opportunities provided by the knowledge economy, we will survive only as an amusement park and holiday land for the citizens of more successful developed economies.

This article puts New Zealand into world perspective by assessing its knowledge economy benchmarks against its competitors. It outlines the theoretical background to ‘‘new growth theory'' and delineates the lessons of that theory, especially for New Zealand. It treats the key issues for New Zealand’s emergence as a knowledge economy, including education, the M ori dimension, immigration, research and development, venture capital, export policy and telecommunications regulation.

Shilpa’s filthy hands

The celebrity Big Brother race row centers, in part, on the preparation, handling and consumption of food. While the ritual of formal and informal dining is a key trope of the series, in this instance it is used to construct notions of difference and Otherness. Eating/not eating Indian becomes a symbol of purity and danger: of Shilpa's filthy natural self that somehow lurked beneath her glamorous exterior. If one eats Indian one is consuming the Other, with the potential to be taken over or spoiled by it. Shilpa, then, comes to stand for a complex and contradictory mix of Eastern/Oriental gender stereotypes. However, at the same time, the racialised grammar of representation used to mark her out as Other draws attention to the white bodies attempting to deny her wholeness. In choosing to eat/not eat Indian one opens up a dynamic space for an interrogation of whiteness to emerge. In fact, Jade, Jo, and Danielle become inferior signifiers of national identity in an age of global consumption. By contrast, Shilpa becomes 'surplus value', a supericonic sign that resists the name calling, fetishisation, marginalisation demanded by those on the show. The Big Brother race row may well be a text that directly speaks to the new post-colonial communication flows in place in the contemporary age.

Comparing different economic linkages among commodity futures

Gasoline (GA) and kerosene (KO) are extracted from crude oil (CO), such that the three fuel commodities share a chemical link. On the other hand, GA also shares an industrial link with natural rubber (NR) and palladium (PA) as complementary commodities that are heavily consumed by the automobile industry. We contrast the information content embedded in the two economic linkages. Focusing on TOCOM futures contracts written on the five commodities and centering on GA, we confirm that incremental information provided by either CO, KO or NR, PA over a buy-and-hold strategy and a naive forecast, are both statistically and economically significant. While the chemical link forecast is more profitable, a double-link forecast generated from a VECM with two cointegrating vectors (KO-GA and GANR prices) outperforms both single-link forecasts based on risk-adjusted profit net of transaction costs. Further comparisons against the profitability of commodity-based momentum strategies documented in Erb and Harvey (2006) and Miffre and Rallis (2007) show that the double-link forecast holds its own against the most profitable of the 75 momentum strategies considered. This strongly suggests that not only are there incremental profits to be gained from harnessing and combining economic links among commodity futures, the resultant incremental profits are economically significant against other proven commodity-based trading strategies in the existing literature.

An agent-based approach to value theory and wealth distribution in economics

Any attempt to model an economy requires foundational assumptions about the relations between prices, values and the distribution of wealth. These assumptions exert a profound influence over the results of any model. Unfortunately, there are few areas in economics as vexed as the theory of value. I argue in this paper that the fundamental problem with past theories of value is that it is simply not possible to model the determination of value, the formation of prices and the distribution of income in a real economy with analytic mathematical models. All such attempts leave out crucial processes or make unrealistic assumptions which significantly affect the results. There have been two primary approaches to the theory of value. The first, associated with classical economists such as Ricardo and Marx were substance theories of value, which view value as a substance inherent in an object and which is conserved in exchange. For Marxists, the value of a commodity derives solely from the value of the labour power used to produce it - and therefore any profit is due to the exploitation of the workers. The labour theory of value has been discredited because of its assumption that labour was the only ‘factor’ that contributed to the creation of value, and because of its fundamentally circular argument. Neoclassical theorists argued that price was identical with value and was determined purely by the interaction of supply and demand. Value then, was completely subjective. Returns to labour (wages) and capital (profits) were determined solely by their marginal contribution to production, so that each factor received its just reward by definition. Problems with the neoclassical approach include assumptions concerning representative agents, perfect competition, perfect and costless information and contract enforcement, complete markets for credit and risk, aggregate production functions and infinite, smooth substitution between factors, distribution according to marginal products, firms always on the production possibility frontier and firms’ pricing decisions, ignoring money and credit, and perfectly rational agents with infinite computational capacity. Two critical areas include firstly, the underappreciated Sonnenschein-Mantel- Debreu results which showed that the foundational assumptions of the Walrasian general-equilibrium model imply arbitrary excess demand functions and therefore arbitrary equilibrium price sets. Secondly, in real economies, there is no equilibrium, only continuous change. Equilibrium is never reached because of constant changes in preferences and tastes; technological and organisational innovations; discoveries of new resources and new markets; inaccurate and evolving expectations of businesses, consumers, governments and speculators; changing demand for credit; the entry and exit of firms; the birth, learning, and death of citizens; changes in laws and government policies; imperfect information; generalized increasing returns to scale; random acts of impulse; weather and climate events; changes in disease patterns, and so on. The problem is not the use of mathematical modelling, but the kind of mathematical modelling used. Agent-based models (ABMs), objectoriented programming and greatly increased computer power however, are opening up a new frontier. Here a dynamic bargaining ABM is outlined as a basis for an alternative theory of value. A large but finite number of heterogeneous commodities and agents with differing degrees of market power are set in a spatial network. Returns to buyers and sellers are decided at each step in the value chain, and in each factor market, through the process of bargaining. Market power and its potential abuse against the poor and vulnerable are fundamental to how the bargaining dynamics play out. Ethics therefore lie at the very heart of economic analysis, the determination of prices and the distribution of wealth. The neoclassicals are right then that price is the enumeration of value at a particular time and place, but wrong to downplay the critical roles of bargaining, power and ethics in determining those same prices.

Bringing innovation to centre stage : the rhetoric of commercialisation and cross-sector collaboration

As a key element in Australia's national innovation system, public sector organizations, such as universities and public-funded research agencies, have increasingly become involved in R&D collaborations with firms. Government policy has encouraged this cross-sector collaboration, and in the most recent policy "act" has focused on the commercialisation of research findings (through which R&D outputs are translated into marketable commodities) and has encouraged public sector organizations to become more directly involved in this activity. But while the policy rhetoric has contributed to a discourse of marketization, through which cultural change in the research performing organizations is both promoted and legitimised, there are other voices in the unfolding policy drama which point to the complex and multifaceted nature of commercialisation in national economies. These countervailing voices emphasise the multiple roles that public sector organizations play in national innovation systems, and this introduces organizational role ambiguity into the discourse leading to confusion among the research performing actors. It is concluded that, given the complex and subtle nature of innovation processes, the traditional dichotomy between applied (or commercially-focused) research and "public good" research is no longer tenable nor helpful in the policy debates.

A note on the property rights theory and the ex ante value of information

This paper examines the ex ante value of information in the property rights model where the possibility exists that an investing agent can be provided with relevant information before investments are undertaken. When contracts are incomplete, from an ex ante perspective, informing the investing agent does not necessarily increase the expected surplus resulting from a relationship between two economic agents. The paper highlights the fact that the second-best nature of the problem that arises from contractual incompleteness can ensure this.

Latent variable models of need for uniqueness

The theory of uniqueness has been invoked to explain attitudinal and behavioral nonconformity with respect to peer-group, social-cultural, and statistical norms, as well as the development of a distinctive view of self via seeking novelty goods, adopting new products, acquiring scarce commodities, and amassing material possessions. Present research endeavors in psychology and consumer behavior are inhibited by uncertainty regarding the psychometric properties of the Need for Uniqueness Scale, the primary instrument for measuring individual differences in uniqueness motivation. In an important step toward facilitating research on uniqueness motivation, we used confirmatory factor analysis to evaluate three a priori latent variable models of responses to the Need for Uniqueness Scale. Among the a priori models, an oblique three-factor model best accounted for commonality among items. Exploratory factor analysis followed by estimation of unrestricted three- and four-factor models revealed that a model with a complex pattern of loadings on four modestly correlated factors may best explain the latent structure of the Need for Uniqueness Scale. Additional analyses evaluated the associations among the three a priori factors and an array of individual differences. Results of those analyses indicated the need to distinguish among facets of the uniqueness motive in behavioral research.

Recreational value of Southern Bluefin Tuna fishing

Southern bluefin tuna (Thunnus Maccoyii) is a global resource, which is critically endangered. The Committee for the Conservation of Southern Bluefin Tuna sets commercial quota levels for member nations, including Australia, each year. However, southern bluefin tuna is also a popular “trophy” fish with recreational anglers. The size of the total recreational catch, which is not included in the quota, is unknown but thought to be significant. This paper reports the findings of a study designed to estimate the recreational value of the non-commercial southern bluefin tuna catch at Portland, in southwest Victoria. The results indicate that the size of the recreational catch at Portland is considerable and therefore significant in terms of the management of the fishery. Furthermore, the non-market recreational values associated with the fishery are substantial with the on-site recreational use value (consumer surplus) per person per visit estimated to be between $33 and $132 and the on-site annual recreational use value of the fishery for one season is estimated to be between $449,533 and $1,325,124.

American beauty recycled : the celebrity machine

This work examines the 'machine' of celebrity suggesting that the value assigned to celebrity and the function of celebrity n our society has to do with surplus desire and fluid identity. This work gtakes the video within the movie American Beauty and reframes i as an installation with gold leaf commenting on the ephemeral and trahs-lie, throw-away nature of celebrity and the way in which celebration can be extracted from the lottery of celebrity production.

The Pharmaceutical Industry and Access to Medicines in India

Pharmaceutical policy in India as elsewhere is shaped by conflicting economic and social interests and opposing values and priorities. Tensions can be understood as revolving around the contradiction between use value and exchange value in the production of medicinal drugs as commodities, as per Marx’s original analysis. The use value of medicines – if safe and efficacious, of good quality, and prescribed and consumed appropriately – is the prevention, cure or alleviation of ill-health and disease. Health policy is – or should be – aimed at optimising the use value of medicines. For this purpose government agencies administer regulatory oversight of the manufacturing, marketing and distribution of medicines. Drugs made available to patients are expected to meet adequate safety, quality and efficacy standards, but regulation to ensure such standards is subject to controversy in most countries. This is a domain where definition and interpretation of scientific-technological principles and criteria is infused by partiality and bias grounded in social and material interests, as evidenced by recurrent debates about industry ‘capture’ of regulatory agencies, including the world’s most regulator, the US Food and Drug Administration (Angell 2005; Law 2006). In India, a Parliamentary Committee Report in 2012 depicted the Central Drugs Standard Control Organisation (CDSCO) as dysfunctional and influenced inappropriately by the exchange value perspective of manufacturers (Parliamentary Standing Committee on Health and Welfare 2012). The clash between use and exchange value perspectives is starkly illustrated by cases of products known to cause more harm than good, particularly common in poorly regulated markets such as India’s, as shown by Srinivasan & Phadke.

Illegal immigration, technology adoption and welfare

A debate in the illegal immigration and technology adoption literature suggests that hiring illegal immigrants may be hindering the adoption of new technology, which in turn harms a country’s productivity growth. This paper analyses an individual firm’s behaviour regarding new technology adoption in the presence of illegal immigrants. We assume a Ricardian economy and analyse immigration of illegal unskilled workers in a model of Cournot duopoly where firms are producing homogenous and non-traded goods, and hiring illegal immigrants. A two-stage simultaneous move game is set up: in Stage 1, given the opportunity of hiring illegal immigrants, an individual firm decides whether to adopt the new technology or not, where technology adoption is costly. In Stage 2, each firm will choose the Cournot output level. Solving this two-stage game, we conclude that (i) given the opportunity of hiring illegal immigrants, an individual firm may adopt the new technology and (ii) in the case of zero tolerance of illegal immigration, technology adoption may increase but such technology adoption is immiserizing as it reduces the total surplus.

The hermeneutics of transpacific assemblages

This paper introduces the hermeneutics of globalisation to venture beyond political and economic overdetermination. More specifically, I set out to inspect the interpretive complexity of the hermeneutics of transpacific assemblages, namely the surplus of interpretations in a transforming world, which entangles linguistic, cultural, historical and political dimensions in a complex web of negotiations. This paper sets the theoretical and methodological scene for future research on particular empirical realities. The ultimate goal outlined here is the development of an understanding, explanation and critique of actually existing transpacific assemblages as lived and interpreted phenomena. I conclude by introducing the theme ‘cultural heritage’ and its ongoing construction, deconstruction and reconstruction within and beyond museums to dissect the endless hermeneutic becoming, emerging and making of transpacific forms of life.

Climate change impacts : challenges for aquaculture

In spite of all the debates and controversies, a global consensus has been reached that climate change is a reality and that it will impact, in diverse manifestations that may include increased global temperature, sea level rise, more frequent occurrence of extreme weather events, change in weather patterns, etc., on food production systems, global biodiversity and overall human well being. Aquaculture is no exception. The sector is characterized by the fact that the organisms cultured, the most diverse of all farming systems and in the number of taxa farmed, are all poikilotherms. It occurs in fresh, brackish and marine waters, and in all climatic regimes from temperate to tropical. Consequently, there are bound to be many direct impacts on aquatic farming systems brought about by climate change. The situation is further exacerbated by the fact that certain aquaculture systems are dependent, to varying degrees, on products such as fishmeal and fish oil, which are derived from wild-caught resources that are subjected to reduction processes. All of the above factors will impact on aquaculture in the decades to come and accordingly, the aquatic farming systems will begin to encounter new challenges to maintain sustainability and continue to contribute to the human food basket. The challenges will vary significantly between climatic regimes. In the tropics, the main challenges will be to those farming activities that occur in deltaic regions, which also happen to be hubs of aquaculture activity, such as in the Mekong and Red River deltas in Viet Nam and the Ganges-Brahamaputra Delta in Bangladesh. Aquaculture in tropical deltaic areas will be mostly impacted by sea level rise, and hence increased saline water intrusion and reduced water flows, among others. Elsewhere in the tropics, inland cage culture and other aquaculture activities could be impacted by extreme weather conditions, increased upwelling of deoxygenated waters in reservoirs, etc., requiring greater vigilance and monitoring, and even perhaps readiness to move operations to more conducive areas in a waterbody. Indirect impacts of climate change on tropical aquaculture could be manifold but are perhaps largely unknown. The reproductive cycles of a great majority of tropical species are dependent on monsoonal rain patterns, which are predicted to change. Consequently, irrespective of whether cultured species are artificially propagated or not, changes in reproductive cycles will impact on seed production and thereby the whole grow-out cycle and modus operandi of farm activities. Equally, such impacts will be felt on the culture of those species that are based on natural spat collection, such as that of many cultured molluscs. In the temperate region, global warming could raise temperatures to the upper tolerance limits of some cultured species, thereby making such culture systems vulnerable to high temperatures. New or hitherto non-pathogenic organisms may become virulent with increases in water temperature, confronting the sector with new, hitherto unmanifested and/or little known diseases. One of the most important indirect effects of climate change will be driven by impacts on production of those fish species that are used for reduction, and which in turn form the basis for aquaculture feeds, particularly for carnivorous species. These indirect effects are likely to have a major impact on some key aquaculture practices in all climatic regimes. Limitations of supplies of fishmeal and fish oil and resulting exorbitant price hikes of these commodities will lead to more innovative and pragmatic solutions on ingredient substitution for aquatic feeds, which perhaps will be a positive result arising from a dire need to sustain a major sector. Aquaculture has to be proactive and start addressing the need for adaptive and mitigative measures. Such measures will entail both technological and socio-economic approaches. The latter will be more applicable to small-scale farmers, who happen to be the great bulk of producers in developing countries, which in turn constitute the “backbone’ of global aquaculture. The sociological approaches will entail the challenge of addressing the potential climate change impacts on small farming communities in the most vulnerable areas, such as in deltaic regions, weighing the most feasible adaptive options and bringing about the policy changes required to implement these adaptive measures economically and effectively. Global food habits have changed over the years. We are currently in an era where food safety and quality, backed up by ecolabelling, are paramount; it was not so 20 years ago. In the foreseeable future, we will move into an era where consumer consciousness will demand that farmed foods of every form will have to include in their labeled products the green house gas (GHG) emissions per unit of produce. Clearly, aquaculture offers an opportunity to meet these aspirations. Considering that about 70 percent of all finfish and almost 100 percent of all molluscs and seaweeds are minimally GHG emitting, it is possible to drive aquaculture as the most GHG-friendly food source. The sector could conform to such demands and continue to meet the need for an increasing global food fish supply. However, to achieve this, a paradigm shift in our seafood consumption preferences will be needed.

Fatty acid metabolism in European sea bass (Dicentrarchus labrax) : effects of n-6 PUFA and MUFA in fish oil replaced diets

Monounsaturated fatty acids (MUFA)-rich and n-6 polyunsaturated fatty acid (n-6 PUFA)-rich vegetable oils are increasingly used as fish oil replacers for aquafeed formulation. The present study investigated the fatty acid metabolism in juvenile European sea bass (Dicentrarchus labrax, 38.4 g) fed diets containing fish oil (FO, as the control treatment) or two different vegetable oils (the MUFA-rich canola/rapeseed oil, CO, and the n-6 PUFA-rich cottonseed oil, CSO) tested individually or as a 50/50 blend (CO/CSO). The whole-body fatty acid balance method was used to deduce the apparent in vivo fatty acid metabolism. No effect on growth performance and feed utilization was recorded. However, it should be noted that the fish meal content of the experimental diets was relatively high, and thus the requirement for n-3 long-chain polyunsaturated fatty acid (n-3 LC-PUFA) may have likely been fulfilled even if dietary fish oil was fully replaced by vegetable oils. Overall, relatively little apparent in vivo fatty acid bioconversion was recorded, whilst the apparent in vivo ?-oxidation of dietary fatty acid was largely affected by the dietary lipid source, with higher rate of ?-oxidation for those fatty acids which were provided in dietary surplus. The deposition of 20:5n-3 and 22:6n-3, as % of the dietary intake, was greatest for the fish fed on the CSO diet. It has been shown that European sea bass seems to be able to efficiently use n-6 PUFA for energy substrate, and this may help in minimizing the ?-oxidation of the health benefiting n-3 LC-PUFA and thus increase their deposition into fish tissues.