Economic evaluation of Arapaima gigas production in earth ponds: Case study of a small fish farm at San Martin-Peru

Arapaima gigas is an Amazon specie with great commercial demand and high production performance, but its feasibility is variable. The current study aimed to perform an economic evaluation of the production of A. gigas on earth ponds in San Martin, Peru. Three hundred young fish (19 ± 0.01 cm and 68.32 ± 0.01 g) were stocked (ten fish·m^–2 in three ponds of 1000 m² for 390 days). Growth performance was evaluated based on the survival, feed conversion rate (FCR), final mean weight, final average length, weight gain, specific growth rate, and productivity. Investment, costs, indicators, and feasibility were determined. Arapaima gigas has a profitable production performance in earth ponds in Peru, fish presented a weight gain (kg) of 11 kg in 390 days and productivity of 3,265.70 kg·ha^–1. Food and fingerlings were the most important items in the production cost. This production is a low-investment and high-profitable business, with an incremental investment of US$3,287.15, profit of US$ 3,977.38·cycle^–1, Net Present Value of US$ 22,149.37, and an Intern Rate Return of 32.28%. This could be a way of increasing the income of small producers through the diversification of their production.