Profitable Business Idea: Earn Up to Rs 4-5 Lakhs from Shrimp Farming Business, Know How

In the aquaculture sector, shrimp farming is a booming business. It is a multibillion-dollar industry, and the best thing is that anyone can run a small-scale shrimp farm and bring in six figures annually.

Starting and managing a shrimp farming business doesn’t require a university degree, just some technical skills in farm management practice. It also demands dedication and daily checkup monitoring. So, give shrimp farming a try if you want to make a huge profit by starting a business. Here’s a step-by-step breakdown of how to start and manage a profitable shrimp farm business.

It's essential to produce high-quality products if you want to succeed. So, you must get the necessary tools to learn everything there is to know about shrimp farming. You must be aware of the necessary tools, supplies, food, meds, and feeders. The business has enormous export potential, especially in the domestic market, where frozen shrimp is more profitable for the owners than fresh shrimp.

Things to Keep in Mind Before Starting Shrimp Farming:

If you're planning to raise shrimp for profit, you should think about the following matters:

How many different species of shrimp are there? Which ones should I raise?

What does it cost to start off?

What kind of food does shrimp eat?

How are growing shrimp fed?

What sorts of predators or enemies are shrimp?

How much room is required to raise shrimp?

Are any licenses or permits required?

Do you know of any associations, clubs, or organizations that support aquaponics and shrimp farming?

How can the ponds' water quality be tested? And what level of water quality your shrimp farm must maintain.

How to Start a Shrimp Farming Business in 7 Steps?

Learn About the Local Demand

It is vital to have detailed knowledge about the local shrimp market's competition and demand. Before starting a business, conduct market research and gather essential data on the local shrimp farming industry.

Registration and Licensing

Get in touch with the local government before you start your farm. Find out which licenses are required for shrimp farming. To run a commercial shrimp farm, most states will require you to buy an aquaculture permit. Additionally, register your company in accordance with the law.

Location Selection

The pond or other body of water you use has a major impact on how successfully you can raise freshwater shrimp. You must pick a pond that hasn't just been dug up. Newly constructed ponds do poorly the first year. because there is not a sufficient amount of food in the ponds. Additionally, you need to buy young shrimp from a business hatchery.

Starting the Shrimp Farm

You have a variety of options for setting up your shrimp farm. Ponds, huge tanks, swimming pools, and any other water storage facilities are included. However, for industrial aquaculture, a natural pond produces the most shrimp.

Additionally, the water body needs to have a good flow of fresh water. You must test the soil to determine the PH balance. However, 6.5 is the PH level that is ideal for shrimp cultivation.

Pesticides and fertilizers made of chemicals are toxic to shrimp. To guarantee that your shrimp have sufficient of natural food, only use organic, natural fertilizers.

Stocking the Young Shrimps

Make sure there are no harmful insects before stocking. Use an organic technique to get rid of any insects you find, including larvae. Ensure that no harm is being done to other fish.

Additionally, juvenile shrimp do best at a temperature of 6° F or less. Shrimp can be harvested at a rate of 12,000–16,000 per acre. Shrimp size increases with lower stocking density. It does, however, result in a lower overall poundage of yield.

The selection and purchase of a suitable juvenile farm is the most crucial step in starting a shrimp farming business.

Feeding

Give your shrimp food twice daily. Use specialized shrimp feeds that are commercially produced. When the shrimp weigh at least 5.0 grams, you can start feeding them. Additionally, you can use premium imported shrimp feeds.

Harvesting

Two months after the stocking, you can start harvesting. But you need to make sure the shrimp are raised to market size. Two techniques exist for harvesting. Cull harvesting and drain harvesting are two examples. You can choose the best option based on the infrastructure that is available.

It's critical to link production rates with marketing tactics. If not, you'll need to set up a suitable storage space. Before opting to start a shrimp farm, it is necessary to get more information.

Step-by-Step Guide to Start Indoor Shrimp Farming Business:

You can start an indoor shrimp farm and make a steady income if you follow the right steps. Here are the measures to take after creating a solid indoor shrimp growing business plan:

Choose a location for your shrimp farm.

Know the climatic requirements for cultivating shrimp.

Build ideal ponds for shrimp farming

Make sure the pond's surface is clean and that the pH is between 7 and 8.

Create a plan for your shrimp farm.

Pick the proper breed.

Set up the right food (and timing of the food) for the shrimp harvest and begin supplying

Subsidies Provided by Government for Shrimp Farming:

The National Fisheries Development Board Scheme provides the following subsidies for shrimp farming:

• new fish/prawn ponds and tanks are being built All farmers are eligible for a 20% subsidy up to Rs. 3 lakh, with the exception of SC and ST farmers, who are eligible for a 25% subsidy.

• All farmers, with the exception of SC and ST farmers, are eligible for a 20% subsidy for the amount of the unit cost for the renovation of existing fish/prawn ponds and tanks.

• The available subsidy for the development of a freshwater prawn seed hatchery is 40% of the unit cost.

NABARD provides subsidies and loans for fish farming as well. To check the eligibility, rate of interest, and other details, click here.