Economic Viability and Operational Efficiency: A Comparative Study of Biofloc and Traditional Aquaculture with Special Reference to Bengaluru, India

Abstract

Aquaculture has emerged as a vital component of the Indian agrarian economy, playing a significant role in enhancing food security, generating income, and promoting rural livelihoods. As one of the largest producers of inland fish in the world, India has leveraged its vast water resources to develop a robust aquaculture sector, contributing to the diversification of agriculture and the overall economic development of the country. In this context, a comprehensive analysis of biofloc and traditional aquaculture methods was carried out to know the differences in economic and operational aspects between them. The results reveal that, biofloc aquaculture requires a substantially higher initial investment compared to traditional methods, as indicated by a significant t-test result. However, feed costs showed no significant difference. Labour wages are notably higher in biofloc, indicating socioeconomic implications. Financial analysis highlights biofloc's financial viability, with positive contribution margins, operating profits, and favourable break-even metrics. Traditional aquaculture, despite lower initial investments, suffers from negative operating profits and a margin of safety deficit. Stakeholder perceptions indicate biofloc's higher productivity, profitability, and operational ease, but acknowledge challenges such as higher initial investments and complexity. Traditional aquaculture, while cost-effective initially, lacks profitability and ease of operation. The findings suggest prioritizing biofloc technology, emphasizing the need for institutional support and subsidies to make it economically viable and accessible to the aqua culturist community.