Actions that aim to improve animal welfare are likely to involve costs for the producer, although at the same time such actions may improve the profitability of production. In this article we introduce a quantitative bio-economical approach for estimating the economic consequences for improving animal welfare in the aquaculture industry; for farmers and the industry as a whole. The decision tool can be used with different welfare indicators, different species and production systems. It can be used to rank the economic consequences of different techniques that aim to improve welfare. We illustrate the decision tool with a case study relating to the use of triploids in rainbow trout farming. We highlight the probability how the benefits gained from changes in bio-economical productivity factors, and consumers’ willingness to pay can overcome the costs associated with implementing a specific welfare intervention.
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