WWW.WAS.ORG • WORLD AQUACULTURE • MARCH 2026 71 prices were depressed. Market analysis must be as rigorous as technical design. It is essential to understand consumer preferences, certification requirements, and the behavior of consumers and competitors, since these factors ultimately determine how well a product can enter the market, grow, and stay competitive. Choosing the wrong site, species, system, or technology. Site selection is often the single most important factor determining long-term viability. It begins with the technical fundamentals: water of adequate quality, suitable soils and topography, and a stable climate. Equally important is access to dependable infrastructure, including roads, energy supply, communications, logistics, industrial services and processing capacity. The environmental dimension adds another layer of complexity. Sites must be evaluated for their carrying capacity, vulnerability to pollution, potential impacts on biodiversity, and interactions with wildlife. They also need to demonstrate resilience to climate change and natural hazards, all within an ecosystem-based management framework that safeguards surrounding habitats. Socioeconomic conditions complete the picture. Secure land tenure and access rights, support from nearby communities, availability of a reliable workforce, and the ability to avoid conflicts with other coastal users all play critical roles. In some cases, there may also be opportunities for synergies with existing activities. Taken together, these technical, environmental, and social considerations are the foundations to reducing risk, ensuring sustainability and securing the social license needed for aquaculture enterprises to succeed. Species choice and production technology are decisive for success. Exotic species may appear attractive because of established markets or fast growth, yet they often encounter regulatory barriers, adaptation challenges, and elevated disease risks, all of which have contributed to costly failures in many regions. By contrast, endemic or locally established species usually offer a safer route. They are better adapted to local environmental conditions, may be more tolerant of local pathogens and tend to face fewer permitting obstacles under national biodiversity policies. Projects built around native species also often enjoy stronger community acceptance and reinforce local value chains. The lesson is clear: while diversification has value, giving priority to endemic species provides a more stable foundation for new ventures. That said, this approach is not without challenges. Farming technologies for native species may be limited or still under development, and market demand is sometimes confined mostly to consumers already familiar with the product. Expanding that demand can require significant investment in marketing and time. Production costs may also be higher than those of the equivalent wild product, which can constrain profitability until scale, efficiency or consumer recognition improves. Innovative technologies can be tempting, especially when they promise higher yields or improved sustainability. Yet, many are not fully proven under commercial conditions. Pilot projects run by private, governmental, or R&D institutions at semicommercial or commercial scale can be useful in that they can show whether innovative aquaculture technologies and species are viable under different conditions, lowering perceived risks and encouraging investment and sector growth. However, systems that work in research or pilot trials may fail when scaled up, due to unforeseen costs, operational complexity, or biological variability. Projects that adopt untested approaches without first running pilots or phased trials expose themselves to unnecessary risk. A measured approach -testing innovation at a smaller scale before full deployment- is far more likely to lead to success. Nevertheless, attention should be paid to emerging technology changes, such as recirculation, biofloc, and offshore farming, as they are likely to impact global aquaculture production in coming decades, leading to the obsolescence of today’s mainstream production methods and practices. Disease and Biosecurity Lapses. Disease is the largest cause of aquaculture losses worldwide, costing an estimated six billion US dollars annually. Shrimp farming provides stark examples: White Spot, Early Mortality Syndrome, and EHP diseases have each caused catastrophic losses to projects and whole regions. Disease outbreaks can be prevented or managed using comprehensive health management plans which include practices such as biosecurity, vaccination, probiotics, use of tolerant strains, and bioremediation. Diversification across sites and species can provide additional resilience. Feed and Seedstock Challenges. Feed generally accounts for up to three-quarters of operating costs. If feed is of poor quality or feeding practices are inefficient, or if the species itself is a poor feed converter over all or part of its lifecycle, profitability can erode or disappear. Failure to carefully consider and track feed conversion ratios (both biological and economic) can easily sink aquaculture projects. Seedstock supply is equally critical. Hatcheries are (CONTINUED ON PAGE 72) From Risk-to-Resilience Risks Mitigation Strategies Misalignment Align goals and governance Weak planning Extensive due diligence and realistic assumptions Talent gaps Hire skilled employees, develop teams and management structures Financial errors Right-sized investment, align resources to business cycles Regulatory delays Plan permitting strategy and timing Poor marketing Thoroughly analyze marketing and logistics Wrong site/species/system Select wisely and start with pilot phase, then expand Biosecurity lapses Implement comprehensive health management plan Feed/seed issues Secure reliable supplies Environmental/ social pressure Build community trust & embrace sustainable practices
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