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In everything I have read about bugs as a protein source there is only one thing that worries me. Somewhere, I think it was in that FAO report, it says that in Thailand insects are priced 4 times higher per weight than conventional meats. If insects are such great and efficient protein producers, how come their meat is so much more expensive? In the text this is presented as something positive: That people are willing to pay so much proves that insects are not only for the poor who can’t afford anything else, but popular among the better-off who can make an active choice.
The obvious answer is that compared to other kinds of farming, insect farming is new and hasn't yet been optimized to the same extent as the others. Heck, many of the bugs ending up on Thai markets are probably still "hunted" rather than farmed. Maybe there are also subsidies (as in the US and EU) that keep conventional meat artificially cheap.
What do you think? How cheaply do you think different kind of insects could be sold? Which price do you think it would have to reach in order to compete? (I realize there are bigger obstacles than price at this point, but eventually the pricing will have to be reasonable.)