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 From the point of view of the economist, two key elements have to be taken into account when speaking of new species : production costs and market acceptance. The cost share of juveniles has been reduced while farmed fish production was increasing, and now represents between 10 and 15% of total operating costs. Such a low level means that there are not many productivity gains to expect from the hatchery phase for present species. On the contrary, it will certainly require a lot of research effort and much field practice not to exceed this threshold in the case of new species. Beyond the question of juveniles production cost, the selection process for a new species has to consider the growth potential of the fish, the market segment and the image. The European market for fresh fish is not homogeneous, but is driven by the same trends toward ready-to-cook fillets at the expense of whole fish. The diversification based on new Mediterranean species may help a producer to enhance his own market share on the whole fish segment, and to cope with high production costs thanks to a good selling price, but within a declining market and with a limited volume of production. On the contrary, the market for fresh fillets can absorb huge volumes, but under tight constraints of size and of production costs since most of fresh fillets of fish are sold in a very narrow price range, with competitive supply coming from all around the world. When dealing with new species, the question of image is crucial since consumers want a fish which is both natural and totally under control from a health standpoint. The catering sector could be a real opportunity for farmed fish as long as regular supply is guaranteed.

At OFIMER (French Interprofessional Agency for Marine and Aquaculture Products), Philippe Paquotte is in charge of the French seafood market survey and of the coordination of national and international market studies in order to identify outlets for French products. Formerly, he has worked on aquaculture economics at IFREMER and has been scientific coordinator of the FAO/SELAM economics network for Mediterranean aquaculture.

 Contact Details: Philippe Paquotte, OFIMER, Paris, France, philippe.paquotte@ofimer.fr