Scholarly record
COMMERCIALISATION POTENTIAL OF ALGAL BIOSTIMULANTS IN THE BALTIC SEA REGION: REGULATORY IMPLICATIONS AND ECONOMIC ASPECTS
Abstract
The research investigates the commercialization potential of algal biostimulants in the Baltic Sea region, considering the existing regulatory framework. Using quantitative analytical methods and a comprehensive literature review, the study assesses the economic, environmental and regulatory impacts of biostimulants. The results show that, on average, algal biostimulants can increase crop yields by 17.9%, generating additional income of пїЅ179,000 per 1,000 ha, reduce fertilizer costs by 15%, saving пїЅ45,000, and reduce nitrogen leaching by 1,500 kg per 1,000 ha. The research shows that despite regulatory challenges, the potential for commercializing algal biostimulants in the region is significant. EU Regulation 2019/1009 and regional programs provide a favorable framework for biostimulant development, encouraging innovation and sustainable agricultural practices. However, differences in national regulations present both challenges and opportunities for the development of the sector. The calculated Sustainability Impact Coefficient (SIC) of 0.937 indicates that the use of biostimulants is approaching the break-even point when considering both economic and environmental benefits. The research concludes that algal biostimulants offer significant economic and environmental benefits in line with the priorities and regulatory framework of the Baltic Sea region, while also contributing to CO2 sequestration and nutrient removal from the Baltic Sea
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References20
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