Land-based aquaculture
Land-based aquaculture
Business Model Description
Open business model that creates and captures value through systematic collaboration with external partners (public universities, MAG, etc.).
Expected Impact
Create economic opportunities through sustainable aquaculture-related activities while encouraging women to integrate into the system.
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
Disclaimer
UNDP, the Private Finance for the SDGs, and their affiliates (collectively “UNDP”) do not seek or solicit investment for programmes, projects, or opportunities described on this site (collectively “Programmes”) or any other Programmes, and nothing on this page should constitute a solicitation for investment. The actors listed on this site are not partners of UNDP, and their inclusion should not be construed as an endorsement or recommendation by UNDP for any relationship or investment.
The descriptions on this page are provided for informational purposes only. Only companies and enterprises that appear under the case study tab have been validated and vetted through UNDP programmes such as the Growth Stage Impact Ventures (GSIV), Business Call to Action (BCtA), or through other UN agencies. Even then, under no circumstances should their appearance on this website be construed as an endorsement for any relationship or investment. UNDP assumes no liability for investment losses directly or indirectly resulting from recommendations made, implied, or inferred by its research. Likewise, UNDP assumes no claim to investment gains directly or indirectly resulting from trading profits, investment management, or advisory fees obtained by following investment recommendations made, implied, or inferred by its research.
Investment involves risk, and all investments should be made with the supervision of a professional investment manager or advisor. The materials on the website are not an offer to sell or a solicitation of an offer to buy any investment, security, or commodity, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer would be unlawful under the securities laws of such jurisdiction.
Country & Regions
- Costa Rica: Golfodulce
Sector Classification
Food and Beverage
Development need
Key economic region to activate the Brunca region and the Osa Peninsula.
Policy Priority
Promote a resilient system with the potential to adapt to climate change.
Gender inequalities and marginalization issues
The pole has medium to high percentages of unemployed women of working age (4.8 potential gender index).
Investment opportunities introduction
It presents logistical opportunities due to its proximity to Paso Canoas. It also has 356.91 km of development corridors.
Key bottlenecks introduction
163.70 km of roads in poor condition, 608.26 km square with access problems to energy substations, 875.66 square km without 4G connectivity, 490.56 km with gaps in social development.
Food and Agriculture
Development need
Enhance the perceived good business climate for the development of emerging activities such as aquaculture.
Policy Priority
Aquaculture contributes to mitigating and adapting to climate change and strengthening food security.
Gender inequalities and marginalization issues
It seeks to encourage women to own and manage their ponds to improve the income and nutrition of their families.
Investment opportunities introduction
Land-based oyster cultivation.
Key bottlenecks introduction
High operating costs and weak infrastructure for aquaculture activities, natural limitations of Golfo Dulce do not allow large-scale production at sea.
Agricultural Products
Pipeline Opportunity
Land-based aquaculture
Open business model that creates and captures value through systematic collaboration with external partners (public universities, MAG, etc.).
Business Case
Market Size and Environment
In 2019, oysters' price per unit was USD 3 in Puntarenas (9).
From 2016 to 2017, oyster production in Costa Rica increased by 10% (1).
In 2019, Costa Rica produced one million oyster seeds per year (7).
The potential of oyster farming in the country is widely known. Iin the next years, farms dedicated to oyster aquaculture will double or triple (6). Crassostrea Gigas oyster is the most internationally traded. Once the new purification plant announced in 2019 is operational, it is projected to increase monthly production by 1200% in the country, reaching one million oyster seeds per month (7).
Indicative Return
With mechanization, a GIGA oysters hectare has 0.7%-18% profitability (2).
In a fattening oyster farm, it is necessary to take into account four aspects of profitability: 1) the variety of oyster species used, 2) the ecosystem, 3) the type of facilities and technology used, being able to differentiate: bagged or "pochon" on a table and suspended in a pan, in an oyster basket or attached to a rope and 4) the density and size of the seed in the farm (2).
Investment Timeframe
Short Term (0–5 years)
Oyster: each cycle can take between 18 and 30 months.
Ticket Size
An initial investment of $185,000 is required to achieve a production capacity of approximately 10,500 kg of oysters per year (8).
Market Risks & Scale Obstacles
Strategy
Training
Capital - Requires Subsidy
Market - Highly Regulated
Impact Case
Sustainable Development Need
Activate the Brunca region and the Osa Peninsula.
Gender & Marginalisation
Encourage women to own and manage their ponds to contribute to improving their families' income and nutrition.
Expected Development Outcome
To increase the Social Development Index (SDI) in this development pole.
Gender & Marginalisation
To decrease gaps in the Potential Gender Index in this development pole.
Primary SDGs addressed
14.7.1 Sustainable fisheries as a proportion of GDP in small island developing states, least developed countries, and all countries. In particular, the proposed aquaculture is terrestrial and therefore conserves the marine biodiversity of the Gulf.
By 2022, the economic activity "Agriculture, forestry, and fishing" is projected to contribute 1.7 trillion colones to Costa Rica's GDP and increase at a rate of 2.3% (11).
By 2050, foster highly efficient agri-food systems that generate low-carbon goods for export and local consumption.
Secondary SDGs addressed
Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Indirectly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Outcome Risks
The location of the ponds on land determines the survival rate of the oyster. Therefore it can die if not located on time.
Impact Risks
Ensure partnership and advice with the UNA Mollusc Marine Station.
Impact Classification
What
Sustainable land-based aquaculture to harness human capital with a disposition to fishing activities.
Risk
Loss of oyster harvest without advice and accompaniment.
Impact Thesis
Create economic opportunities through sustainable aquaculture-related activities while encouraging women to integrate into the system.
Enabling Environment
Policy Environment
Territorial Economic Strategy for an Inclusive and Decarbonized Economy 2020-2050 in Costa Rica: Consolidating a coastal center with blue economy opportunities in the Osa Peninsula.
National Decarbonization Plan 2018-2050: Promoting efficient agri-food systems that generate low-carbon export goods and local consumption.
Financial Environment
Financial incentives: Of the funds placed by the Development Banking System in 2019, 45.09% went to agricultural activities.
Fiscal incentives: Income tax law that gives differentiated treatment to MSMEs and SMEs.
Other incentives: Costa Rica has the largest oyster purification plant in Central America. This initiative is part of the government's strategy to promote aquaculture for the productive transformation of Puntarenas.
Regulatory Environment
Law 8436, Fisheries and Aquaculture Law: To promote and regulate fishing and aquaculture activities in the different stages of capture, extraction, processing, transportation, marketing, and sustainable use of aquatic species.
SENASA / INCOPESCA: Temporary bans on the extraction and commercialization of bivalve mollusks (mussels, clams, oysters, etc.), farmed, and wild.
Marketplace Participants
Private Sector
Parque Marino del Pacífico, Unión Zonal (union of the 7 development associations of the Osa Peninsula).
Government
Marine Station of Mollusks of the UNA in Puntarenas; Nautical Fishing Center of INA; Regional Brunca Golfito of INCOPESCA; National Aquaculture Program of SENASA -MAG.
Target Locations
Costa Rica: Golfodulce
References
- (1) SEPSA (2018) Boletín Estadístico Agropecuario №28|Serie Cronológica 2014 - 2017.
- (2) FUNDAME (2018) La Empresa Ostricola: Sistema Productivo Y Rentabilidad. Capítulo 6.La ostricultura.
- (3) Asamblea de Costa Rica (2005) Ley de Pesca y Acuicultura, Nº 8436.
- (4) MIDEPLAN (2021) Estrategia Económica Territorial para una Economía Inclusiva y Descarbonizada 2020-2050 en Costa Rica
- (5) INEC (2015) VI Censo Nacional Agropecuario. CARACTERÍSTICAS DE LAS FINCAS Y DE LAS PERSONAS PRODUCTORAS.
- (6) Peña, N (2019) Acuicultura en Costa Rica. Universidad Técnica Nacional. Publicado en WORLD AQUACULTUR.
- (7) Casa Presidencial (2019) Costa Rica tendrá la mayor planta de depuracion de ostras de centroamerica. Comunciado oficial
- (8) Ballesteros, O (2019) PRODUCCIÓN Y COMERCIALIZACIÓN DE OSTRAS A ESTADOS UNIDOS DESDE LA BAHÍA DE SAN BLAS: ANÁLISIS DE VIABILIDAD Y PERSPECTIVAS. UTF, Argentina.
- (9) OPESCA (2009) Diagnóstico del cultivo y extracción de moluscos en Centroamérica. Informe regional.
- (10) INCOPESCA (2019) PLAN ESTRATÉGICO DE LA ACUICULTURA INCOPESCA 2019-2023.
- (11) BCCR (2021). Exportaciones FOB Totales por Producto. Matriz de datos.