Is the Fish Farming Business profitable?

The fish farming business is an old approach that has increased its market these days. Fishes are an excellent resource of vitamins and healthy proteins. Industrial fish farming carried out in freshwater can assist you in growing various fishes for consumption.

You can earn up to Rs 1.5- 2 lakhs by spending only Rs. 25,000 annually on this profitable business. “Fisheries” has become a major focus for the government in the past few years and government has launched many schemes for the development of aquaculture and fisheries sector in India.

Banks offering Low-interest rates for fish farmers
Axis Bank: Axis Bank provides Kisan Matsya Loans for fulfilling the financial requirements of the farmers who are in the business of fresh/ brackish water fish or prawns cultivation. The Kisan Matsya Loans are available for flexible loan tenures of 1 to 5 years and a sum of up to Rs. 150 Lakhs. Axis Bank’s Kisan Matsya Loans are available at attractive interest rates and low processing fees. You can apply for Kisan Matsya Loans at your nearest Regional Rural Lending Office.

SBI’s Pradhan Mantri Mudra Yojna (PMMY)- Allied Agri:
SBI provides Term loans for the purpose of generating self-employment opportunities and livelihood in agriculture & allied activities up to Rs 10 Lakhs. Interest rates are linked to One Year MCLR rate + spread. Spread is determined by Bank from time to time. At present interest rate is 10.75% pa. 

COVID-19 has exposed the voids in our aquaculture market, revealing exactly how to take advantage and enter the fish farming industry.

Fisheries and also tank farming are a crucial resource of food manufacturing, nutritional security, employment, and revenue in India. The fisheries sector is a straight resource of incomes for more than 20 million fishers and fish farmers; contributes INR 1.75 lakh crore every year to the gross value contributed to India’s economic climate; and is a significant export earner, with fish being among one of the most essential agricultural products to be exported from India.

COVID-19 and also the subsequent lockdown has actually left India’s fisheries in the lurch. Nevertheless, India is not alone. Extreme financial losses to fisheries have actually been reported throughout the globe, and also in all cases, the damages has been best for export-driven fisheries with complicated supply chains. The infection might have been the trigger, however India’s barrel was currently filled with decades of well-intentioned yet ill-fated policies, unregulated development, and also market instabilities. Securing the future of India’s fisheries both during COVID-19 as well as past, needs a deep dive into understanding their past, existing, as well as possible future.

High quality inputs such as fingerlings, commercial fish feeds and aquaculture chemicals are key factors in  fish farming.

Reasons behind Fish Farming Business failure:
a) Unscientific Approach
b) Low-quality feed
c) Improper Management

There is no denying the fact that fish farming is a really rewarding company. Statistics recommend that the ROI from fish farming is two times more than that of wheat farming.

Among the major aspects that figure out profitability is the high quality of output. This is why farmers ought to make no concessions when it concerns fish feed.

As well as with more funds positioned to be can be found in from the Central government, farmers can utilize new modern technology as well as integrate it with premium feed to gain big profits from fish farming. Bear in mind, the premium fish feed are staffed with all the essential elements that make sure a healthy outcome.

Here are some steps that can help you expand your fish farm, make your business even more commercial and make the fishes you produce better!

• Aquaculture, decades behind that of animal farming, is a young business. Improvements in breeding technology, disease control, feeds and nutrition, and low-impact production systems are interlinked fields where research can supplement conventional expertise to improve performance. In every part of the world, these types of technologies have been behind productivity increases, whether driven by producers, research organizations, corporations, or governments.
• Most aquaculture regulations and qualification schemes are centralized at the level of the individual farm. But, even if everybody follows the rule, having several producers in the same region can lead to cumulative environmental effects, such as water contamination or fish diseases. Spatial planning and zoning can ensure that aquaculture activities remain within the carrying capacity of the local ecosystem and can also reduce resource use conflicts.
• If farmed fish don’t need large quantities of wild fish in their diets, fish farming will relieve pressure on marine habitats. Consumers should also demand “low-trophic” species such as tilapia, catfish, carp, and bivalve mollusks that feed poorly on the food chain. Focus should be put on these species in emerging economies, where consumption of low-trophic species is still dominant, even as billions of people join the global middle class in the coming decades. At the same time given that fish are a major source of nutrition for more than a billion poor people in the developing world, it will be important to expand aquaculture to meet the food and nutritional needs of these consumers.
• Farmers can be given incentives to practice more sustainable aquaculture through a variety of public and private policies.

No doubt, fish farming is a crucial part of the Indian economy and essential to the food production and employment of our country. For a long time, fish farming is one of the most successful businesses and every person can be a part of this ever-growing sector!