A modelling of the production phase of norwegian farmed salmon
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AbstractThis paper researches the biological performance of farmed Atlantic salmon in Norwegian sea cages based on monthly recorded data from 1377 individual sea farms between 2005 and 2020. Our regression results indicate that several parameters impact salmon growth in sea farms. Most notable were sea temperature, sea lice, and feed. These results were then used in a bioeconomic model to create a representative simulation of the production phase that we could adjust. A bioeconomic model can combine biological elements of farmed salmon regarding growth with economic dynamics to measure profit maximization and optimization for companies.Our results showed that an increase in temperature caused the salmon to attain growth more quickly, reducing the cycle duration and improving sea farm profits. Similar effects appeared when increasing initial smolt weight. When released into the sea cages, a higher starting weight of the smolt caused a more effective cycle duration and profit maximization for the company. Salmon prices have also risen dramatically in the last years, providing higher profits for the companies. Our simulation indicates that farms in higher temperature waters, typically in the southern parts of Norway, with a larger initial smolt weight, will acquire greater profits and reduced cycle durations.