NOMIC ANALYSIS OF A DECOUPLED TILAPIA Oreochromis niloticus - CUCUMBER Cucumis sativus AQUAPONIC SYSTEM

Aquaponics, the integrated production of fish and plants, has gained attention and international interest. This  system uses  nutrient-rich effluent from  the  fish system as a fertilizer for plant production. While aquaponic set-ups vary greatly, the goal of  commercial operations is profitability. Target markets for product are variable, depending on location, seasonality, and species or cultivars produced. Technological advances in aquaculture and horticulture continue to aid the development of the industry, but economic analysis remains scarce. This study investigated the current profitability and potential of a decoupled aquaponics operation, using one fish greenhouse stocked with tilapia, and one plant greenhouse producing cucumbers in a pilot-scale aquaponics system at the E.W. Shell Fisheries Center (Auburn, AL). Q uantities of  production inputs required for crops of tilapia (Oreochromis niloticus ) and cucumbers (Cucumis sativus L. 'Delta Star') and quantities sold  of each product  were  transformed into dollar amounts  and entered  into  12 monthly cash flows . Enterprise budgets were developed  from the cash flow,  augmented with  fixed costs calculated from the initial investment schedule to obtain net returns to owner's labor and management.  Research production of cucumbers was 5,544 kg of cucumbers after extrapolation to the full greenhouse area. Tilapia production was 3,002 kg and not expanded. A two-way s ensitivity analysis  indicated  a tilapia price of $3.00/lb and  a  cucumber  price of $2.00/lb was required to  breakeven, covering variable plus fixed cost. Prior research had shown nutrient effluent s coming from one tilapia green house was sufficient to supply  fertilizer  for four cucumber greenhouses. R esearch results were extrapolated to four cucumber greenhouses fertilized by the one tilapia greenhouse . Total  investment was $303,152. Tilapia returns were  positive/negative in the short/long run. However, including cucumbers resulted in positive overall returns, Table 1.  The cost of production covering all costs was $3.27/lb and $1.48/lb for tilapia and cucumbers respectively . Aquaponic tilapia- cucumber systems can be profitable, but rely heavily on  market selling prices, quantity produced, and scale of operation.