Project report for PRAWN FARMING

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Introduction

Fresh Water Prawn the second largest fast-growing prawn occurs commonly in Indian rivers, draining into Bay of Bengal. They are cultivated under monoculture as well as polyculture systems.  Prawn farming has their own importance in the fisheries industry in India. Nowadays, Prawns have acquired a specific place in the diet of many peoples all over the globe. Many peoples are fond of eating Prawns, as directly, as fried or in any other way. Prawns are the excellent source of the presence of Selenium in our body directly prevent the growth of cancer cells in the body. So, Prawns can keep us from many cancer. The content of fatty acids in the Prawns is too high, which is helpful in keeping a healthy heart. Prawns are also an excellent source of Calcium, which is helpful in strengthening the bones. The Vitamin E present in the Prawns is also helpful in keeping healthy skin and also preventing all the skin infections. Nowadays, Prawn Farming business is being very popular and is also increasing more. New growers select this business plan firstly rather than going for any other commercial farming business because of great profit margin. And, the popularity of Prawns in the market is being raised more and more from day to day. There is also a great demand of Prawns in the food processing industry. In India, fisheries is a significant economic sector and offers vast opportunities for development. This is attributed to the diverse resources and potential of the country. Andhra Pradesh is the leading shrimp producer, accounting for more than 50% of the total output.

Market potential & Strategy

The India shrimp market attained a volume of 0.71 million tons in 2020. The market is further expected to grow at a CAGR of 9.5% to reach a volume of approximately 1.23 million tons by 2026. The Indian shrimp market reached a value of INR 196.46 Crores in 2020. Fisheries represent a significant economic activity in India and offer vast growth opportunities on account of the long coastline and favourable geographical conditions. This, coupled with the easy availability of healthy and disease-free shrimp, represents one of the key factors impelling the growth of the market. India has become one the biggest exporters of fresh and frozen shrimp products around the world. In line with this, the escalating demand for shrimp products at a global scale is contributing to the market growth. Furthermore, the growing popularity of regional and international cuisines, along with the rising health consciousness among individuals, is positively influencing the demand for shrimp products in the country. Moreover, increasing health consciousness amongst consumers, escalating disposable incomes and improving standards of living remain some of the other major factors which are further augmenting the demand for shrimps. The rise in the demand for shrimps during covid-19 owing to the fact that it boosts immunity has led to the growth in the overall shrimp market. Shrimps contain selenium, which is an antioxidant that helps in maintaining a healthy immune system. Thus, there was a rise in consumption owing to the fact that it will aid in fighting covid-19.

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