ABSTRACT
As capture fisheries approach or exceed capacity, aquaculture has become one of the fastest growing food production sectors worldwide (FAO, 2012). In the past three decades (1980-2010), world food fish production of aquaculture has expanded by almost 12 times, at an average annual rate of 8.8 per cent (FAO, 2012, pp 24, 25). World aquaculture production attained an all-time high in 2010 at 60 million tonnes with an estimated total value of US$119 billion. As global population grows and per capita consumption of fish increases, aquaculture production should continue to grow (FAO, 2010; Tacon and Metian, 2010). Approximately 16.6 million people (about 30 per cent of those employed in
the fisheries sector) are engaged in fish farming, which is concentrated in Asia (97 per cent), followed by Latin America and the Caribbean (1.5 per cent) and Africa (1 per cent) (FAO, 2012, p 41). In the past five years, the number of people engaged in fish farming has increased at 5.5 per cent per year compared with a mere 0.8 per cent per year for capture fisheries (FAO, 2012, p 42). Growing concern about the impact of aquaculture on the environment has
prompted both government regulation and economic schemes to provide a healthier product that does less environmental damage and even benefits the small farmer. Certification schemes use a consumer-driven economic model to spur demand for a higher-priced product, assuming that the premium prices will allow farmers to improve their environmental practices. The model assumes that, if consumers demand products that are organic and are produced in a way that is environmentally sustainable, responsible producers will provide these products. Third-party certification and inspection systems can assure consumers that the product is indeed sustainable or organic, thus worth the additional price that consumers are willing to pay for these features. The certification system sets requirements and offers inspections of farms to ensure they meet the requirements before being certified and monitors them on a continuing basis. Only producers who adopt the methods required by the certification system can enter the higher-priced market.
