A Study on the Meat and Bone Meal or Poultry By-product Meal as Protein Substitutes of Fishmeal in Concentrated Diets for Paralichthys olivaceus

A study was conducted to evaluate the effects of meat and bone meal （MBM） and poultry by-product meal （PBM） as the replacement of fishmeal in the diets on the growth performance, survival and apparent digestibility coefficient （ADC） of Japanese flounder （Paralichthys olivaceus）. The experimental diets included 0%, 20%, 40%, 60% and 80% MBM or PBM replacement of total fishmeal respectively. All diets were iso-nitrogenous and isocaloric. The results showed that there are no significant differences （P 〉0.05） in growth performance among the treatments fed with 0% -60% MBM replacement of fishmeal, while the percent weight gain （WG, % ）, body length gain （BLG, % ） and ADC significantly decrease when fishmeal is replaced by 80% MBM. The result showed also that there are no significant differences （P 〉0.05） in growth performance and ADC among all treatments fed with the diets with 0% -80% replacements of fishmeal with PBM.

Effects of Brown Fish Meal Replacement with Fermented Soybean Meal on Growth Performance, Feed Efficiency and Enzyme Activities of Chinese Soft-shelled Turtle, Pelodiscus sinensis

A 120-day feeding experiment was conducted to investigate the effects of partial replacement of brown fish meal (BFM) by fermented soybean meal (FSBM) in diets of Chinese soft-shelled turtle (Pelodiscus sinensis). The turtles (initial mean body weight, (115.52 ± 1.05) g) were fed with three experimental diets, in which 0%, 4.72% and 9.44% BFM protein was replaced by 0%, 3% and 6% FSBM, respectively. Results showed that the feeding rate (FR), specific growth rate (SGR) and feed efficiency ratio (FER) of turtles fed with the diet containing 3% FSBM were not significantly different from the control group (0% FSBM) (P > 0.05). However, FR, SGR and FER of turtles fed with the diet containing 6% FSBM were significantly lower than those of the control group (P < 0.05). No significant differences were observed in the activities of serum glutamic-oxalacetic transaminase and glutamicpyruvic transaminase among dietary treatments (P > 0.05). However, the uric acid concentration in turtles fed with the diet containing 3% or 6% FSBM was significantly lower than that in the control group (P < 0.05). There were no significant differences in the activities of lysozyme, alkaline phosphatase and total superoxide dismutase among dietary treatments (P > 0.05). The results suggested that FSBM could replace 4.72% BFM protein in turtle diets without exerting adverse effects on turtle growth, feed utilization and measured immune parameters.

Effects of supplemental coated or crystalline methionine in low-fishmeal diet on the growth performance and body composition of juvenile cobia Rachycentron canadum(Linnaeus)

We evaluated the effects of supplemental coated and crystalline methionine （Met） on the growth performance and feed utilization of juvenile cobia （Rachycentron canadum Linnaeus） in a 60-d feeding trial. Fish groups were fed one of six isonitrogenous and isolipidic diets： 1） fishmeal control; 2） un- supplemented experimental （low-fish-meal diet deficient in Met）; or 3） one of four Met diets supplemented with crystalline L-Met, cellulose-acetate-phthalate coated L-Met, acrylic-resin coated L-Met, or tripalmitin- polyvinyl alcohol coated L-Met. The test diets were fed to triplicate groups of cobia （initial body weight 5.40-4-0.07 g） twice a day. The weight gain and specific growth rate of the fish fed the RES diet were highest among the Met-supplemented groups and were 23.64% and 7.99%, respectively, higher than those of the fish fed with the un-supplemented experimental diet （P〈0.05）. The protein efficiency ratio of the fish fed the MET diet was significantly higher than that of the fish fed the un-supplemented experimental diet and the fish in the other methionine supplementation groups （P〈0.05）. Our results suggest that supplementation of crystalline Met in low-fish-meal diets promotes the growth performance of juvenile cobia.

Effect of Replacing Fish Meal with Extruded Soybean Meal on Growth, Feed Utilization and Apparent Nutrient Digestibility of Juvenile White Shrimp(Litopenaeus vannamei)

Extruded soybean meal （ESBM） was evaluated as a protein source for partial replacement of fish meal （FM） in diets of juvenile Litopenaeus vannarnei. In the control diet （Diet 1）, FM protein was replaced with increasing dietary levels of ESBM （4.28%, 8.40%, 12.62%, 16.82%, and 25.26%） at 10%, 20%, 30%, 40%, and 60% levels （Diets 2 to 6, respectively）. An eight-week feeding trial was conducted on 720 juvenile shrimp （0.67 g ± 0.01 g mean initial Weight）, and nutrient digestibility of the six diets was determined. ESBM could replace 20% of FM without causing a significant reduction in growth of shrimp, but other dietary treatments strongly affected whole body composition. Crude protein content of the whole body fed Diet 6 was significantly lower than that fed Diet 2 （P〈0.05）, while crude lipid content of the whole body fed Diet 5 or 6 was significantly higher than that fed Diet 2 （P〈0,05）. Protein digestibilities of Diets 5 and 6 were significantly lower than that of Diet 1 （P〈0.05）. Digestibility of lipids ranged from 96.97% in Diet 6 to 98.34% in Diet 3, whereas dry matter digestibility decreased with increasing replacement level. This study indicates that 20% FM replacement with ESBM in the basic diet containing 40% protein and 30% FM is optimal for juvenile L. vannamei.

Partially or Totally Replacing Fish Meal with Frozen Artemia as a Dietary Protein Source for Early Stage Giant Freshwater Prawn, Macrobrachium rosenbergii Post Larvae Reared under Controlled Conditions

A 105-day feeding study was conducted to evaluate the effect of partial （0%, 20%, 40%, 60% and 80%） and complete （100%） substitution of dietary fish meal （FM） with frozen Artemia on growth performance and feed utilization of Giant freshwater prawn （Macrobrachium rosenbergii） post larvae （PL） reared in fiberglass tanks under controlled conditions. A total of 1080 M. rosenbergii PL, average weight of 6.10 ± 0.4 mg, were equally distributed over 18 fiberglass tanks, （1 m^3 each, and triplicate per treatment）. Six experimental isocaloric （14 MJ/kg/digestible energy） and isonitrogenous （35% crude protein） diets were lbrmulated. Control diet （D1, 100% FM） was formulated with FM as the main protein source （0% Artemia）. Diets D2-D6 were substituted with five dietary protein levels of frozen Artemia （20%, 40%, 60%, 80% and 100%）, respectively. Results showed that growth performance of M. rosenbergii PL fed different Artemia based diets was either equal or superior to prawn fed control FM diet. In addition, increasing dietary frozen Artemia replacement level from 20% up to 100% led to a significant （P 〈 0.05） increase in survival, growth and feed utilization, which indicate that the essential nutrient requirements needed for M. rosenbergii PL was covering with improving feed satiation of PLs. It could be concluded that frozen Artemia biomass instead of fishmeal in M. rosenbergii PL diets can improve survival rate, growth performance, feed utilization, contributing to reducing the use of FM in practical diets and the nursery phase could be shorter and more profitable.

Effects of Replacing Fishmeal with Animal By-products Meal Supplementation in Diets on the Growth and Nutrient Utilization of Mangrove Red Snapper

A feeding trial was conducted for 75 d to evaluate the nutritive value of a mixture of animal by-products （MAB） as a possible protein source in diets for juvenile mangrove red snapper, Lutjanus argentimaculatus （mean initial body weight, 30 g）. Fish were fed one of five isonitrogenous diets （40% crude protein） replacing 0, 25% （MAB25）, 50% （MAB50）, 75% （MAB75） and 100% （MAB100） of fish meal protein with similar percentages of MAB. The MAB consisted of 25% cow liver meal, 20% leather meal, 20% meat and bone meal, 15% blood meal, 10% APC （poultry feather meal）, 8% poultry manure dried, 1.5% choline and 0.5% chromic oxide. After 75 d of feeding, fish fed with diets MAB50, MAB75 and MABI00 exhibited significantly lower growth performance than that of fish fed with control and MAB25 diets. The optimum level of MAB was estimated to be 23%. Replacement of fish meal by MAB23% showed the following performance： maximum weight gain, 510%; SGR, 2.39% and FCE, 2.83%. The MAB substitution up to 75% of fish meal protein in diets did not show differences in apparent protein digestibility （83.6% for MAB25, 79.2% for MAB50, 78.7% for MAB75） compared with control （83.4%）, whereas in MABI00 group digestibility （65.3%） was significantly lower than in other groups. The apparent phosphorus absorption of test diet groups was significantly higher （37.1% for MAB25, 28.5% for MABS0, 55.6% for MAB75 and 54.5% for MABI00） than that of control （1 1.2%）. The levels of protein and ash in the whole body, carcass and viscera increased as MAB substitution in diets increased, whereas lipids and moisture remained consistent among all treatment groups. These results showed that approximately 23% of fish meal protein could be replaced by a mixture of animal by-products for juvenile snapper growing from 30 g to 167 g in 75 d without compromising growth performance and feed efficiency.

Effects of fish meal and sodium butyrate on growth performance, gut development and glucagon-like peptide-2 secretion in weanling piglets

The experiment was conducted to study the effects of fish meal and sodium butyrate on growth performance, gut development and GLP-2 secretion in weanling piglets. A 2×2 factorial design was used with two fish meal levels （0, 5%）, and two sodium butyrate levels （0, 0.3%）. There were 4 dietary treatments： control diet （CD）; control diet supplemented with fish meal （CF）, control diet supplemented with sodium butyrate （CB）, control diet supplemented with fish meal and sodium butyrate （FB）. A total of 44 28-days-old Large White×Landrace weanling piglets were randomly allotted into 4 treatment averagely. The experiment period was 14 days. The results showed that sodium butyrate＇s addition increased average diary gain （ADG）, average diary feed intake （ADFI） and gain to feed intake ratio （G：F） of weanling piglets （all P〈0,05）, improved gut morphology （mucosa thickness, ratio of villous height to crypt depth） and sucrase activity, and fish meal＇s addition increased maltase activity （all P〈0.05）. Either sodium butyrate or fish meal addition decreased cecum colibacillus quantity, sodium butyrate increaded ratio of cecum lactobacilli to colibacillus （P〈0.05）. Consequently, diarrhea was reduced in diet supplemented with fish meal （P=-0.08） and diet supplemented with sodium butyrate （P=0.15） through 14 days of experiment, significant reduction of diarrhea rate was observed in diet supplemented with fish meal through the first 7 days （P〈0.05）. In addition, sodium butyrate and fish meal addition in diets tended to increase plasma GLP-2 concentration, however, GLP-2 concentration on the 4th day was consistently decreased in diet supplemented with fish meal relative to that on day 0 （P=0.08）. Overall, it could be concluded that both sodium butyrate and fish meal addition improve intestinal development and sodium butyrate addition significantly increase growth performance. The gut trophic response to sodium butyrate or may be in agreement with development. peptide GLP-2 increases in fish meal addition in diet and the alteration of intestinal

Partial and Total Replacement of Jojoba Meal （Simmondsia chinensis） Instead of Fishmeal in Nile Tilapia （Oreochromis niloticus） Fingerlings Diets

The present study was carried out to investigate the total and partial replacement of Jojoba meal （JM）, Simmondsia chinensis, with fishmeal （FM） at different levels （0%, 25%, 50%, 75%, and 100%） on growth performance, feed utilization, and carcass composition of Nile tilapia, Oreochromis niloticus fingerlings. Fingerlings with an average weight of 1.65 ± 0.01 g/fish stocked at a rate of 10 fish/aquarium for 84 days experimental period. All experimental diets were isocaloric （437.69 kcal/100 g Dry Matter, DM） and isonitrogenous （30.5% crude protein） and supplemented with 0.5% L-Methionine and 0.5% L-Lysine Hcl. Results showed that there were a significant differences （P 〈 0.05） in final body weights, average daily gain （g fish^-1 dayl）, specific growth rate （SGR, % day^-1）, feed conversion ratio （FCR）, protein efficiency ratio （PER）, protein productive value （PPV%） and energy retention （ER%） among the tested groups. Nile tilapia fingerlings fed on the diet containing 25% S. chinensis protein exhibited comparable growth performance to those fed FM protein based diet. Carcass composition of crude protein decreased significantly （P 〈_ 0.05） with increasing JM replacement level above 50%, while replacement 25% JM does not affect DM and Crude Protein of fish flesh. On the other hand, increasing JM replacement level up to 75% increased Ether Extract % significantly （P 〈 0.05） and increasing JM up to 100% increased ash content significantly （P ≤ 0.05） while energy content （EC） decreased. It could be concluded the replacement of 25% Jojoba meal instead of fishmeal in Nile tilapia fingerlings diets is possible without any adverse effects on its growth performance or feed utilization.

On-line Separation and Preconcentration for Histamine Determination in Fish Meal Using Cation-Exchanger Resin

FI system was used for the determination of histamine. A mini-column filled with amberlite resin （weak cation exchanger） was introduced to the flow system. A 200 laL of the sample was injected into the carrier stream through the injection valve. The merged streams were passed through a quartz flow cell in a spectrophotometer connected to recorder. Under the optimum conditions, the calibration curve was linear in the range 0.02-1.5 μg mL^-1 of histamine using the peak height as an analytical signal, while the detection limit was 0.01 μg mL^-1. The precision and accuracy of the method were studied depending upon the values of the relative standard deviation and relative error percentage. The selectivity of the method was investigated by studying the effect of interference from other species accompanied with histamine in fish meal. Under the optimum conditions, the system was used for on line separation, preconcentration of histamine. The proposed method was applied for the determination of histamine in fish meal. The results were compared with the standard method and a good agreement between the results was obtained.

Feasibility of Partial Replacement of Fishmeal with Proteins from Different Sources in Diets of Korean Rockfish(Sebastes schlegeli)

An 8-week feeding experiment was conducted in an indoor recirculation seawater system to investigate the effects of partial replacement of dietary fishmeal with proteins from five sources on the growth performance and feed utilization of Sebastes schlegeli. Six isonitrogenous and isoenergetic diets were formulated using fishmeal(FM, the control) as sole protein source, or proteins from five sources including poultry by-product meal(PBM), meat and bone meal(MBM), soybean meal(SBM), cottonseed meal(CSM) and canola meal(CNM). Fifteen percent of the crude protein provided by fish meal was replaced, respectively. The results showed that the differences in specific growth rate(SGR) and survival rate(SR) among fish fed PBM, MBM, SBM, CSM and whole FM diets were not significant. However, SGR and SR of fish fed CNM diet was significantly lower than that of other treatments. Feeding rate, feed conversion, nutrient retention showed similar patterns to that of growth. Fish fed CSM and CNM showed significantly lower apparent digestibility coefficient(ADC) of dry matter and gross energy than those fed others while fish fed CNM showed lower ADC of crude protein than those fed others(P<0.05). These results suggested that it was feasible to substitute 15% dietary protein provided by fishmeal with PBM, MBM, SBM and CSM, respectively, but not with CNM as the replacement with CNM reduced fish growth and feed utilization.

Isozymes Analysis of the Golden Cuttlefish Sepia esculenta (Cephalopoda: Sepiidae)

Thirty nine isozymes in four tissues (mantle muscle, buccal bulb muscle, eye and liver) of Sepia esculenta were screened for enzymatic analysis using starch gel electrophoretic technique. Eighteen enzymes (G3PDH, LDH, MDH, MEP, IDHP, PGDH, GRS, NP, AAT, CK, AK, EST, ALP, ACP, FBP, MPI, GPI and PGM) show strong activities and good convergence in zymogram. They are proved to be suitable genetic markers in Sepia esculenta. Among the tissues used, mantle muscle is the best for electrophoretic analysis of isozymes. Eye and liver are fairly good for some special enzymes, such as LDH, EST, MPI, etc. Twenty six loci are detected. The proportion of polymorphic loci is 0.115 in the Qingdao sample and 0.153 in the Rizhao sample ( P < 0.99 ). The mean values of the observed and expected heterozygosity per locus of Qingdao sample are 0.016 and 0.017 , while those of the Rizhao sample are 0.023 and 0.025 respectively.

Palatability of Water-Soluble Extracts of Protein Sources and Replacement of Fishmeal by a Selected Mixture of Protein Sources for Juvenile Turbot(Scophthalmus maximus)

Poor palatability is a limiting factor for replacing fishmeal with other protein sources in aquaculture. The water-soluble molecules with low molecular weights are the major determinants of the palatability of diets. The present study was conducted to investigate the palatability of water-soluble extracts from single protein source(single extract pellets) and the mixture of these extracts with different proportions(blended extract pellets) in juvenile turbot(Scophthalmus maximus). Then according to the palatability of blended extract pellets, an optimal mixture proportion was selected, and a new protein source made from raw protein materials with the selected proportion was formulated to replace fishmeal. Summarily, the palatability of single extract pellets for turbot was descendent from fishmeal to pet-food grade poultry by-product meal, wheat gluten meal, soybean meal, peanut meal, meat and bone meal, and corn gluten meal. Subsequently, according to the palatability of single extract pellets, 52 kinds of blended extract pellets were designed to test their palatability. The results showed that the pellets presented remarkably different palatability, and the optimal one was diet 52(wheat gluten meal: pet-food grade poultry by-product meal: meat and bone meal: corn gluten meal = 1:6:1:2). The highest ingestion ratio(the number of pellets ingested/the number of pellets fed) was 0.73 ± 0.03, which was observed in Diet 52. Then five isonitrogenous(52% crude protein) and isocaloric(20 k J g^(-1) gross energy) diets were formulated by replacing 0(control), 35%, 50%, 65% and 80% of fishmeal with No.52 blending proportion. After a 10-weeks feeding trial, a consistent feed intake was found among all replacement treatments. Replacement level of fishmeal up to 35% did not significantly influence final body weight, specific growth rate, feed efficiency ratio, and protein efficiency ratio of turbot. Therefore, the water-soluble extracts of protein sources play an important role in improving the palatability of non-fishmeal protein sources in aquafeed.

Use of High Content Fish Silage Wet Food in Final Growth out of PacQ （Piaractus mesopotamicus, Holmberg 1887）in Northeast Argentina

The effect of two diets containing fish acid silage were studied, the first one offered as dry diet and the second one as a wet diet, in final culture cycle of PactS. Previous experiences showed that diets without fishmeal maintain same growth rate in semi intensive system, compared to diets containing 8% and 20% fish meal. Feeding trials were carried out in CENADAC （27°32′ S, 58030＇ W） in a semi intensive pond culture system for 122 days. Two experimental feed including fish silage, a liquid product obtained of fish residues treated by enzymes action, were formulated. Fish silage was prepared by mincing and blending fish viscera with sufficient formic acid （2.11% v/w） to attain a stable pH of 3.5. Fish were daily fed initially with the dry ration at 1.3% bw/d and at a rate of 0.55 g of protein/100 g of fish with the wet ration. At the end of the experience the average weight observed for dry fed fish was 1,513.5 g and 1,560.3 g for those wet fed. The daily growth was 3.69 g/d for the first group and 3.9 g/d for the second one. The final FCR was 2.72 and 3.01 for each group without significant differences. These results showed that it is possible to grow out paco with wet self made feed without fish meal and with similar growth that those fed dry diet.

Effects of Dietary Stachyose on Growth Performance, Digestive Enzyme Activities and Intestinal Morphology of Juvenile Turbot(Scophthalmus maximus L)

A 12-week feeding trial was conducted to evaluate the effects of dietary stachyose on the growth performance, digestive enzymes activities and intestinal structures of juvenile turbot(Scophthalmus maximus L). Five isonitrogenous(49.58% crude protein) and isolipidic(10.50% crude lipid) diets were formulated to contain 0(Control), 0.625%(S-0.625), 1.25%(S-1.25), 2.5%(S-2.5) and 5%(S-5) stachyose, respectively. With the increase of stachyose level, the growth performance and feed utilization of turbot, such as the specific growth rate, final mean body weight, weight gain rate and feed efficiency, increased significantly(P < 0.05) and then stabilized. The feed intake of fish fed S-5 was significantly higher(P < 0.05) than that of fish in other groups. The activities of trypsin, intestinal caseinolytic, stomach and intestinal amylase were significantly influenced by stachyose(P < 0.05). The highest values of trypsin and intestinal caseinolytic activities were observed in group S-1.25, while the highest activity of stomach amylase and the lowest activity of intestine amylase were observed in group S-5. No lesion or damage was found on the distal intestine structures of fish from all treatments, while the height of simple folds in the distal intestine was significantly increased(P< 0.05) when 1.25% or 2.5% stachyose was added in the diets. These results indicated that moderate level of stachyose(1.25%) improves the growth performance, feed utilization, digestive enzyme activities and the distal intestine structures of juvenile turbot.

Productive Performance of Giant Freshwater Prawn （Macrobrachium rosenbergi） Fed Diet Containing Silkworm Pupae （Bombyx mon~ Replacing for Fish Meal

The productive performance of giant freshwater prawn （Macrobrachium rosenbergii de Man） fed diet containing silkworm pupae （Bombyx mori） replacing for fish meal was conducted by focusing on digestibility, growth performance and feed utilization. Five diets of an isonitrogenous of 35 ：e 1% crude protein and isocaloric of digestible energy of 3,200 ±100 kcal/kg were formulated by using silkworm pupae, 0%, 8.6%, 17.2%, 25.8% and 34.7% by weight, replaced for fish meal. Giant freshwater prawn of 19 ± 2.0 g were stocked at 5 ind./m3 in concrete tank of 2.25 ton for three months. The protein digestibility by pepsin enzyme was evaluated in fish meal, silkworm pupae, soybean meal and shrimp meal. The digestibility was significantly difference （P 〈 0.05）. The protein digestibility of fishmeal and soybean meal was higher than silkworm pupae and shrimp meal. The productive performance of prawn in terms of growth rate and feed utilization were not significantly different （P 〉 0.05）. Therefore, silkworm pupae can be replaced for fishmeal in giant freshwater prawn （Macrobrachium rosenbergii de Man） without any adverse effects on productive performance.

Replacement of Fish Meal with Graded Levels of Earthworm Meal in the Diet of Fingerlings： Effect on Feed and Growth Parameters

The study was aimed at evaluating growth response of Heteroclarias fingerlings fed diet in which fish meal was substituted with graded levels of earthworm meal. The replacement levels were 0.00%, 25%, 50%, 75% and 100% designated as Eo, E25, Es0, E75 and El00, respectively. Fingerlings used for the work were obtained through artificial insemination of brood stock （purchased from local farmers） with ovaprim in the laboratory. The resulting fry were reared and fed with cultured plankton for 2 weeks followed by 100% fish meal for another two weeks. Thereafter sixteen fingerlings weighing 4.73 g and measuring 6.512 mm standard length （on the average） were starved over night and reared in five indoors tanks （0.8 ~ 0.5 ~ 0.5 m） in duplicate for eight weeks. Fingerlings were fed on graded earthworm meals of 40% protein twice daily at 08：00 and 16：00. The highest mean weight （6.77 g）, specific growth rate （0.86） and protein efficiency ratio （0.6） were obtained at 50% replacement level. Also, Food conversion ratio was the highest at 50% substitution level and lowest at 0.00% substitution, indicating that fingerlings use earthworm containing meal more efficiently. Furthermore, cost benefit analysis revealed that the profit index for 50% inclusion of earthworm meal was the highest （1.71） and the highest net profit of N374.32 （circa $2.3） was achieved at this level. Water quality parameters observed were within tolerable values for the fingerlings well being. Consequently, farmers are advised to use 50% earthworm meal in place of fish meal for formulation of Heteroclarias fingerlings diet. This will drastically reduce production cost, increase farmers profit and enhance the biological value of our menu.

Influence of Three Protein Sources on Performance of Grasscutters （Thryonomys swinderianus） Fed Diets with or without Fishmeal

An 8-week feeding trial was conducted to assess the effect of soybean meal （SBM）, groundnut meal （GNM） and blood meal （BM） addition in diets with or without （1%） fishmeal on the performance, N-digestibility and cost of production of growing grasscutters. Fifty-four grasscutters （9-week-old） of mixed sexes were randomly assigned to six dietary treatments, using a completely randomized design （CRD） in a 2 × 3 factorial arrangement, with three grasscutters per treatment and three replicates each. Treatments 1-3 （TI-T3） contained no fishmeal, whilst treatments 4-6 （T4-T6） had 1% fishmeal added. The diets were formulated to be isocaloric and isonitrogenous. N-digestibility was significantly high for SBM diets with or without fishmeal, 83.91% and 82.19%, respectively, followed by BM diets. Average daily gain （ADG） was significantly （P 〈 0.05） high （12.95 g） for BM diet without fishmeal. Feed cost per kg diet was the lowest （US$0.195） for the same BM diet. The results indicated that the inclusion of SBM and BM in the diet of grasscutters with or without 1% fishmeal could improve performance and it may be the most economical for feeding BM in the diet without fishmeal.

To What Extent Does the Market Price of Imported Fishmeal Affect the Market Price of Pisciculture Products in Japan？ The Case of Yellowtail and Sea Bream

This study investigates the extent of the influence of imported fishmeal price changes on the market price of pisciculture products. To date, there have been only a few insufficient researches on this topic in Japan. This paper aims to reveal the causality relationship between the market price of imported fishmeal and the market price of pisciculture products using the granger causality test, and to simulate the market price of pisciculture products using impulse response functions as the price of imported fishmeal increases. The results of the granger causality test and impulse response function analyses were as follows： （1） there is a market linkage from the price of imported fishmeal to the market price of sea bream, but no causality with the market price yellowtail; and （2） this has a positive impact on the market price of sea bream when the price of imported fishmeal changes. Moreover, spillover effects were noticed in this simple scenario （at a market price of 800 yen/kg and one unit shock of 1 yen） of about 3 yen/kg.