Indian farmed shrimp exports could take a hit moving forward
Indian aquaculture companies may see their shrimp export revenues weather some serious blows during the next fiscal year, which ends on 31 March 2017, according to officials.
Flooding in the Nellore district of Andhra Pradesh as well as a recent outbreak of the fungal disease Enterocytozoon Hepatopenaei (EHP) in shrimp stocks could see a number of companies negatively impacted.
“We had a good run for four to five years. But due to the recent outbreak of EHP fungi and floods, Indian shrimp exports will also be adversely impacted. Currently, we are having discussions with international experts and domestic research institutes on how to control EHP fungi in India,” Ramakant V. Akula, CEO for Chennai-based shrimp feed manufacturer Waterbase Ltd., told The Hindu.
In response to the flooding, Akula said Waterbase had to shut down a Nellore shrimp feed mill and processing unit: “Due to incessant rains and flooding in most of parts of Andhra Pradesh, shrimp farming have been adversely impacted. This will have an impact on shrimp feed sales as well.”
Waterbase’s plans for expansion next year include a hatchery in the Nellore area. The company expects its merger with group firm Pinnae Foods Ltd. to be finalized in the near future.
“By 2020, we would to increase our revenue aggressively. Over the next few years, we are planning to set up several hatcheries in shrimp farming areas to support farmers. We already have a feed mill and are also processing shrimps,” Akula concluded for The Hindu.