Barramundi hatchery start-up launched in India
Three graduates from Mangalore Fisheries College have set up the first private hatchery company in India that will apply technology to produce Asian sea bass (barramundi) seed in Karnataka.
The “Canares Aquaculture” company formed by A.H. Kaushik, V.S. Karthik Gowda, and S.V. Sachin received technical support from India’s ICAR-Central Institute of Brackishwater Aquaculture (CIBA).
In a statement released on 13 September, CIBA said the establishment of the first sea bass hatchery start-up is expected to “energize” the aquaculture sector in the country.
CIBA and Canares Aquaculture have signed a memorandum of understanding, under which the former will transfer its technology in seabass seed production to the new company.
CIBA Director K K Vijayan said the institute will charge INR 500,000 (USD 6,805, EUR 5,737) for transfer of the technology and 10 percent royalty on the net profit of Canares Aquaculture, Times Now News reported on 14 September, citing the Indo-Asian News Service.
“The initiative assumes significance in the wake of the launch of Pradhan Mantri Matsya Sampada Yojana (PMMSY) by Prime Minister Narendra Modi on Thursday for the boosting fish production, doubling farmer’s income and the sustainable growth of fisheries sector,” the institute said.
On 10 September, Modi launched the PMMSY, ascheme aimed at allocating more than INR 200 billion (USD 2.7 billion, EUR 2.3 billion) to boost the development of the country’s fisheries sector, The Times of India reported on 10 September.
CIBA’s Vijayan said the hatchery start-up serves as a milestone in India’s brackishwater aquaculture.
“It is a path-breaking development in country’s aquaculture sector, with youngsters coming to this field with start-up ventures which will pave way for a resurgence and growth in the brackishwater aquaculture, especially Asian sea bass farming in the country,” he said.
CIBA said given the “huge commercial value” of farmed Asian sea bass, demand for high-quality seeds from farmers across India is high.
Photo courtesy of Central Institute of Brackishwater Aquaculture (CIBA)