Bioeconomy Growth in Latvia. System-Dynamics Model for High-Value Added Products in Fisheries
Energy Procedia 2017
Kristīne Ruņģe, Andra Blumberga, Dagnija Blumberga

The rising environmental issues require higher bioeconomy impact on all sectors, also in Latvia bioeconomy is starting to take a role part in economic growth. The main challenge is to invent a new technology, which can provide sustainability and be economically justified. Target was to investigate how much profit you gain from high-value added products. In this study was made a system dynamics model of 5 high value added products: sunscreen, protein cocktail, skin regeneration cream, glue and face cream. Main raw material for all products was gained from carp waste. Created model allows you to analyze chosen production technology and economic benefits. Profit of production depends from price of the product, demand, production cost and capacity. The results show that highest economical potential has given by beauty industry.


Keywords
bioeconomy; high-value added products; fish waste; system-dynamics
DOI
10.1016/j.egypro.2017.04.075
Hyperlink
http://www.sciencedirect.com/science/article/pii/S1876610217321987?via%3Dihub

Ruņģe, K., Blumberga, A., Blumberga, D. Bioeconomy Growth in Latvia. System-Dynamics Model for High-Value Added Products in Fisheries. Energy Procedia, 2017, Vol.113, pp.339-345. ISSN 1876-6102. Available from: doi:10.1016/j.egypro.2017.04.075

Publication language
English (en)
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