**5. Economic aspects**

Of the economically significant species of barnacle, only the "goose barnacles" have an established international market; nevertheless, none of them are cultured on a commercial scale. Species of "acorn barnacles" are consumed on very restricted local markets, although progress has been made in the culture of two species, the "picoroco" in Chile and the"craca in Azores Islands. Thus, in spite of the interesting projections associated with barnacle culture, commercialization remains limited.

### **5.1 Product, yield and market**

"Goose barnacles", together with most of the "acorn barnacles", are consumed fresh. Only the "giant barnacle "*Austromegabalanus psittacus* and the "mine fujit subo" *Balanus rostratus,* are available in various types of elaborated product. The "giant barnacle" is consumed fresh, frozen and canned, principally on the local Chilean market (Fig. 5). The "mine fujit subo" is consumed fresh, as tempura and as soup flavouring on the Japanese market.

The yield of cultured "giant barnacle" has been determined in a processing plant as 15-20% of total harvest weight. Loss through processing is approximately 10% (Bedecarratz et al., 2011). At harvest, specimens reach an average total weight of 150 g, most of which is attributable to the calcareous shell, consisting of six mural plates and two opercular plates. Two, double 100 m long-lines can produce an average yield of approximately 420 gross ton/year. This doubles the average annual production of artisanal fisheries activities over the last few years in Chile.

Experiments conducted under controlled conditions have examined the role of environmental variables in the spatial-temporal variability of "giant barnacle" growth (López et al., 2008a). It has been reported that photoperiod and temperature can synergistically affect the metabolism, influencing molt frequency and growth in some barnacle species (Crisp & Patel, 1960; El-Komi & Kajihara, 1991). These variables change seasonally within the geographic distribution range of the "giant barnacle". Temperature and photoperiod affect the instantaneous growth rate, which is greater at 10oC than at 16oC and at photoperiods of 8h light :16 h darkness, than at 16 h light:8 h darkness. Specimens in the natural environment presented higher instantaneous growth rates at depths of between 4 and 6 m than between 1 and 2 m depth, under conditions of greater darkness and lower temperature, in accordance with the results obtained in the laboratory. In other species of barnacles, increased growth has also been reported under darkness conditions (Costlow & Bookhout, 1953; 1956). Futhermore, as occurs in other species of barnacles, growth and molting frequency are not correlated (Costlow & Bookhout, 1956). In the "giant barnacle" molt frequency was greater at 16oC than at 10oC, with no evidence of variation due to photoperiod. This can be associated with a decreasing metabolism as a result of lower temperatures, or to effects at the neuroendocrine system level. However, the inter-molt periods were longer at 10oC than at 16oC and during photoperiods 8: 16 than 16:8 (López et al., 2008a). If this information is applied to suspended "giant barnacle" cultures, the fattening phase should be undertaken

Of the economically significant species of barnacle, only the "goose barnacles" have an established international market; nevertheless, none of them are cultured on a commercial scale. Species of "acorn barnacles" are consumed on very restricted local markets, although progress has been made in the culture of two species, the "picoroco" in Chile and the"craca in Azores Islands. Thus, in spite of the interesting projections associated with barnacle

"Goose barnacles", together with most of the "acorn barnacles", are consumed fresh. Only the "giant barnacle "*Austromegabalanus psittacus* and the "mine fujit subo" *Balanus rostratus,* are available in various types of elaborated product. The "giant barnacle" is consumed fresh, frozen and canned, principally on the local Chilean market (Fig. 5). The "mine fujit subo" is

The yield of cultured "giant barnacle" has been determined in a processing plant as 15-20% of total harvest weight. Loss through processing is approximately 10% (Bedecarratz et al., 2011). At harvest, specimens reach an average total weight of 150 g, most of which is attributable to the calcareous shell, consisting of six mural plates and two opercular plates. Two, double 100 m long-lines can produce an average yield of approximately 420 gross ton/year. This doubles the average annual production of artisanal fisheries activities over

consumed fresh, as tempura and as soup flavouring on the Japanese market.

**4.3 Factors influencing growth** 

at depths of over 4 m and at low temperatures.

culture, commercialization remains limited.

**5.1 Product, yield and market** 

the last few years in Chile.

**5. Economic aspects** 

Fig. 5. Canned products of "giant barnacle".

With regard to markets and prices, the "goose barnacles" can reach prices of between €15- 25/Kg on the Iberian market. Of the "acorn barnacle" species, the "giant barnacle" is commercialized on the local Chilean market at prices that range between US\$1.5/Kg and 20/Kg. The "mine fujit subo" reaches between US\$12-15/Kg on the Japanese market and the "craca", between €2.5-5/Kg on the local market of the Azores Islands, Portugal (López et al., 2010). Market studies of the "giant barnacle" in Japan indicate that some products can reach up to US\$25/Kg. " Giant barnacle" cultures on the Chilean coast have generated an interest in its commercialization in the USA and on the Iberian market.

#### **5.2 Economic feasibility of "giant barnacle" culture. Financial indicators**

"Giant barnacle" culture is technically and economically feasible based on spat obtained from the wild (Bedecarratz et al., 2011). Nevertheless, the commercial success of these cultures depends on three factors: (a) appropriate selection of culture locations, according to food availability, as well as environmental, oceanographic and climatic conditions. These variables determine spat supply and growth rate, that in turn define the period from spat collection to harvest; (b) effective culture management in order to reduce mortality; (c) ensuring the best prices on external markets by implementing an adequate commercial marketing strategy and exporting the most profitable products.

The financial indicators obtained for frozen and canned products are adequate. The net present value (NPV) is positive for both products; the internal rate of return (IRR) varies between 31-61% and the discounted payback period (DPBP) varies between 3 and 5 years.

The economic profitability index (EPI) fluctuates between 1.7 and 2.9 and confirms that this aquaculture activity is economically attractive, given that current value of expected cash inflows (at 19.6% discount rate) exceeds initial investments (Bedecarratz et al., 2011).

Greatest cash outlay corresponds to production technology (material and labour costs associated with the construction and installation of production technologies). Sensitivity analysis indicates that positive NPC values are maintained, in spite of significant changes in each critical variable, such as: spat density, gross weight, mortality up to harvest, processing and packing costs, FOB sale prices and exchange rate. For elasticity analysis, the most relevant variables are: gross weight at harvest and sale price FOB, while the variable with lowest impact on NPV is processing and packing costs (Bedecarratz et al., 2011).
