The study analyzes the drivers and outcomes of formulated and floating aquafeed adoption across a wide range of production systems including polyculture with different types of species combinations and aquaculture-agriculture integration. The study uses cross section data of 634 ponds from a fish and shrimp farmer survey conducted in 2020 from 7 southern districts of Bangladesh. The evidence shows a widespread adoption of formulated feed, but with a limited share of use. Although yield is higher among ponds with formulated feed use, it is only half of national yield capacity (5.2 t/ha) from pond culture, which creates an avenue to increase yield. The results of double-hurdle (DH) models show that species diversification with fish and prawns increases formulated feed use while specialization with only fish species spurs the use of floating pellets among formulated feed using ponds. Aqua-crop integration increases formulated feed use in extensive margin but reduces the intensity of its use. Surprisingly, larger ponds are less likely to apply floating feed than smaller ones. The matching estimator reveals that increased yield from formulated feed use is not sufficient to provide higher aquaculture income than traditional feed, due to associated higher feed costs. The uneven pattern of formulated feed use can be attributed to resource and knowledge constraints, as well as rational choices by pond owners. Having guidelines on appropriate and cost-effective combination of formulated and traditional feed based on species portfolio and stages of lifecycle, stocking density, and aqua-crop integration can contribute to nutrition security through accelerated aquaculture yield and income.
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