Land-based recirculating aquaculture system (RAS) has gained significant attention as a key technology for the safe and environmental-friendly food production. A land-based RAS have the capabilities to exhaust almost waste water, control water condition and prevent disease transmission. Since a RAS system have not been fully established, cost structure of a RAS remains unclear. The cost structure is a significant to estimate aquaculture business feasibilities, therefore the present study built a land-based RAS management simulator. In the practical land-based RAS, water control condition and fish meal demand can fluctuate with the fish growth. However, traditional RAS models have contained no fish growth model. The present study, assuming aquaculture system for a triploid Atlantic salmon (Salmo salar), developed a RAS simulation model with the growth model: the growth model is based on the von Bertalanffy equation. Applying this simulation model, sensitivity analysis was conducted to estimate the effects of salmon price, fish meal price and government grand on the cash flow on the RAS. From this simulation, the present study clarified the operation condition to return profitability in ten years.
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