An analysis of production factors for Galician-farmed turbot: From boom to stagnation

Abstract

Aquaculture production of turbot in Galicia (Spain) has grown significantly in the last 35 years. The evolution of the sector and the variations in its production technologies are the result of the confluence of different phenomena such as horizontal integration, the arrival of foreign investment or the independence of imported inputs. This article analyses the evolution of Galician-farmed turbot sector production. Five main factors (space, technology, production, marketing and environment), and profitability are studied and analyzed. The results show that the average rate of return in the sector has increased significantly over the last years.