Boost for Shrimp farming | Daily News

Boost for Shrimp farming

The Ministry of Fisheries is taking several measures to develop Shrimp farming. State Minister of Ornamental Fish, Inland Fish and Shrimp Farming Kanchana Wijesekera had held an online discussion with the Ministry of Finance, Central Bank, State Banks, National Aquaculture Development Authority (NAQDA), the Sri Lanka Aquaculture Development Association (SLADA) and Exporters in this regard to finalize a mechanism to support shrimp farmers and help them upgrade their farming ponds.

Accordingly, it was discussed to provide financial assistance for the improvement of 2000 mud ponds in Sri Lanka. Thus, a loan scheme at a 4% interest rate will be introduced by the State Banks to shrimp farmers where up to Rs. 5 Million will be provided for each mud pond and to develop export factory facilities.

State Minister Wijesekera also discussed with the Central Bank on the paying of a further 4% subsidy to the banks and by using the NAQDA license, export license and NAQDA recommendation as collateral.

Accordingly, it was discussed that with the conversion of existing mud ponds to High-Density Farming, the two cycles per year production method which is currently being adopted could be increased to 3-4 cycles per year.

Ministry sources added that Shrimp export revenue which was $17 million in 2019 is expected to bring in $50 million this year. It is further anticipated that shrimp farming can bring in an estimated income of $150 million in 2022 and $400 million in another three years. 


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