The Hindu : Tamil Nadu News : Contract shrimp farming methods elaborated

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Sunday, Dec 13, 2009
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Tamil Nadu

Tamil Nadu

Contract shrimp farming methods elaborated

Special Correspondent

PATTUKOTTAI: Nearly hundred of farmers attended the seminar on ‘Contract Shrimp Farming’ organised jointly by State Bank of India and Oceanaa group, a business conglomerate at Pattukottai in Thanjavur district on Saturday.

Speaking at the seminar, Joseph Raj, Chairman and Managing director of the group said that the group had signed a Memorandum of Understanding with Indian Overseas Bank and State Bank of India for extending loans to shrimp farmers in Tamil Nadu and Union Territory of Puducherry.

He said that Amalgam Marine Harvests, a group company, had financial arrangements with State Bank of India for facilitating farmers to take up shrimp culture under contract farming.

It was said to be the first of its kind wherein shrimp culture was done under contact farming with SBI tie up.

It was a tripartite agreement between farmers, SBI and Oceanaa. Farmers with a minimum of one hectare and license from Coast Aqua culture Authority would be identified by Amalgam Marine and recommended for sanction of loans.

The farmer would have to pay a 15 per cent margin which worked out to be Rs. 53,521.

The net bank loan was Rs. 3,20,000 per hectare given as cash credit, repayable in six months time.

Amalgam Marine would supply seed, feed and chemicals to farmers against invoices and deliver quality inputs at the garmgate.

The company had its own shrimp hatchery with a capacity to produce 350 million seeds per year, Joseph Raj said.

The company would also provide free technical service to the shrimp farmers and had also agreed to buy back the shrimps at market prices prevailing at the time of harvest based on weight, count and quality.

Amalgam Marine in turn would supply the produce to Oceanic Edibles International which had its processing unit at Marakkanam. The processed shrimps would be sold both in domestic and international market.

The sale proceeds would be routed through the bank.

This facilitated repayment of loans and also leave a sufficient surplus of Rs. 3.50 lakh per hectare to farmers, according to the information provided.

C. J. Sampath Kumar, Deputy Director, Marine Products Export Development Authority (MPEDA) explained the best management practices in shrimp farming. A. S. Gunasekaran, Regional Manager, New India Assurance Company, said that insurance cover was provided by the company.

G. Venkatasamy, Assistant Director, Fisheries, K. Palanisamy, AGM, NABARD, Chennai, K. Swaminathan, AGM, State Bank of India, Chennai, O. Henry Francis, Head, Livestock Projects, Amalgam Marine Harvests, participated in the seminar.

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