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Shrimp farming is proving to be a profitable investment

Nov 04, 2024 Letters

Dear Editor,

Shrimp farming is really ‘catching on’ in Guyana, and I am very happy with this. It is not rocket science, and Guyana has the personnel and ambience for it, and I say ‘let it continue to gather momentum,’ more so, that the People’s Progressive Party/Civic Government is really ‘pumping’ a lot into this area of aqua culture. As we know, shrimp production is quite profitable, with some estimates suggesting a minimum profit of 30% for farmers. Shrimping aquaculture, in fact, is a major source of livelihood in countries with large coastal areas, and Guyana fits this milieu.

So, it is very heart-warming, learning that “Shrimp production (is reaching) levels ‘never recorded before’ in Guyana, and this rise hopefully will continue. Outside of the monetary gain, shrimp nutrition is something to behold, as on the average, 100 grams of cooked shrimp has the following: Calories-99; Fat-0.3 grams; Carbs-0.2 grams; Cholesterol-189 milligrams; Sodium-111 milligrams; Protein-24 grams, and I add other vitamins and minerals such as Phosphorus, Copper, Zinc, Magnesium, Calcium, Potassium, Iron and Manganese.

Going back to 2020, when the brackish water shrimp initiative was promoted by President Ali, Guyana has come a far way, with numerous brackish water shrimp farms, resulting from continued investments made over the past few years. In fact, since regaining governance, the PPP/C Administration has been accommodating and promoting the growth of aquaculture in Region Six, increasing the overall number of shrimp ponds from 40 to 150, and ultimately tripling shrimp production, earning a total of $1.8 B in 2023.

As noted by the Minister of Agriculture, Zulfikar Mustapha, who had a profitable face time with some of the shrimp farmers in the region, “prior to the government’s intervention, brackish water shrimp was being produced 9,833 kg per month. However, production from January to September has reached an unprecedented 98,159 kg, a record never seen before.” Specifically, before the government’s intervention, shrimp farmers were producing approximately 9,000 kilograms monthly. Farmers are now producing approximately 98,000 kilograms monthly.

This kind of yield, as I intimated, resulted from a government-led plan, incorporating specialised machines that are being rotated among the farmers to get the work done. Then in terms of making the venture wholesome, farmers are being urged to ensure that the cost of a bucket of their shrimp remain at an affordable price, so that consumers can afford to purchase the shrimp.

In 2023, Guyana earned approximately $1.8 billion from the production of brackish water shrimp due to the government’s heavy focus on increased food production and economic growth. This represents a 49 percent increase when compared to the 548,900 kilograms produced over the same period in 2022. I expect by the end of the year, both yields and profits will get extremely high.

Yours truly,

Hargesh B. Singh

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