Abstract
This study examines the sustainability and economic viability of intensive common carp (Cyprinus carpio) production in recirculating aquaculture systems (RASs) in Hungary. Using a deterministic model, the research identifies production costs, profitability, and the critical factors influencing economic efficiency. It also evaluates the impact of key variables, such as the feed purchase price, the market-sized common carp sales price, the specific gross yield, the electricity price, and electricity consumption, on economic performance by using a sensitivity analysis. Primary data were collected from an experimental trial conducted under controlled conditions in Hungary, dividing the production process into three phases: pre-rearing, post-rearing, and market-sized fish production. The unit production cost of market-sized common carp in 2024 was 5.47 EUR/kg, with energy (47.01%) and feed (24.18%) as the main cost drivers. While the sales price covered variable costs, it failed to offset fixed costs, resulting in a loss of 0.41 EUR/kg. The results reveal that while RAS technology offers high productivity and efficient resource utilization, its economic viability is challenged by high initial investment and operational costs. Nevertheless, the study identifies optimization opportunities in feed management, water usage, and electricity efficiency to enhance sustainability and profitability. These findings emphasize the importance of integrating economic, environmental, and technological considerations to advance intensive aquaculture practices.