How To Start  A Profitable Shrimps And Prawns Production Business in Nigeria

Shrimp farming, also known as prawn farming, is the practice of rearing shrimp or prawn in controlled environments for commercial purposes. It involves the breeding, hatching, feeding, and harvesting of shrimp in ponds, tanks, or other suitable aquatic habitats. The scientific name for the common species of shrimp farmed globally is Litopenaeus vannamei.

What Are Shrimps And Prawns?

Are they the same? Maybe not! Shrimps are crustaceans with long bodies. They belong to the sub-order called Pleocyemata. On the other hand, prawns are a part of the sub-order called Dendrobranchiata. Also, while shrimps can curl, the exoskeleton of prawns does not allow for curling. However, there is very little to differentiate them, and people often use them interchangeably. One can hardly tell the tastes apart. They are both decapod crustaceans, that is, they have ten legs, and they both have exoskeletons. Notwithstanding, shrimps and prawns are not the same creatures.

There are several types of shrimps or prawns that are used for shrimp or prawn farming in Nigeria.  These include:  Giant tiger prawn, Whiteleg shrimp, Blue shrimp, Freshwater prawn, Pacific white shrimp, Indian white prawn, Red claw crayfish,

Shrimp farming requires extensive research and knowledge of the biology and ecology of shrimp, as well as good management practices to ensure optimal growth and survival rates. Shrimp farming yields depend on several factors such as the quality of water, the type of feed, and the genetic stock of the shrimp.

Nigeria currently produces about twelve thousand (12,000) tons of shrimps or pawns per annum but this is far below its production capacity, because Nigeria has a long coastline of eight hundred and fifty-three (853) kilometers, and the Niger Delta has a large unused beach edge, which can be used without destroying mangroves.

The global demand for shrimps presently is estimated to be about 4.75 million metric tons annually. China and Thailand are the world’s leading producers of shrimps, accounting for nearly 75% of the global shrimp production. In 2018, Thailand was the biggest shrimp producer with shrimp production of 2.59 million metric tons.

Shrimps farming set up cost in Nigeria: The average cost of setting up a shrimps farm in Nigeria is between $13,500  to $16,000. This includes the cost of leasing land, constructing ponds, and buying fingerlings. In addition, the cost of labour and other inputs, such as feed and electricity, can vary depending on the farms location. You can also start on a small scale with $2,000. Nevertheless, profit margin for shrimp’s farms can be quite high. This is because the demand for shrimps is very high. Therefore well run shrimps farm with low costs can make much money

Get a good Location: The geographical location of your business site is significant for multiple reasons. First, you need to ensure that your site is close enough to an ocean. This is because the soil in which you intend to construct your pond needs to be acidic and clayey enough to hold water. You also need to ensure that it is not too far from town in order to reduce transportation stress.

The initial stage involves the acquisition of healthy brood stock, which is mature and capable of producing high-quality offspring. These brood stocks are carefully maintained and monitored to facilitate successful reproduction. Once the eggs hatch, they transform into larvae and subsequently develop into post-larvae or juveniles. These young shrimps and prawns are then stocked into the farming system.

Construct Your Ponds: For large-scale production, you need to construct multiple ponds and classify them into two sections for the nursery and the main ponds. The nursery ponds are where you introduce the juvenile shrimps after hatchery.

Feeding And Nurturing The Shrimps: For intensive shrimp production, it is advisable to introduce fertilizers and supplements. Fertilizers will aid the growth of organisms such as phytoplankton and algae for your shrimps to feed on. Over time, you would also need to introduce supplements such as grains, pellets and leftovers. To make this easier, you would have to invest in automatic feeders.

Shrimp Exportation: In addition to food production, shrimps and prawns are also commercialized on a large scale and can be exported to the international market. Nigeria exports mainly to Japan and USA where shrimp consumption is on a high because shrimps and prawns are valuable food items. The Nigerian shrimps industry is worth $57 million per annum in export. With more individuals delving into shrimp exportation, the value of the sector is bound to rise.

Distribution And Marketing: For local producers or small-scale frozen shrimps and prawns production businesses, distribution and marketing make a good business opportunity. Prawns are not only purchased by direct consumers who buy for domestic consumption alone, but also by restaurants, hotels and eateries which make recipes with them. These institutions buy in large quantities at a time and are always in constant demand. The same can be said of retailers who deliver to markets and stalls.

Starting a shrimp or prawn farm requires adequate planning, investment in infrastructure, and knowledge of the business. Farmers should ensure they have a good understanding of the types of shrimp or prawns suitable for farming, the necessary equipment and materials, and the best management practices for ensuring a high yield. Continuous learning, adaptation, and staying updated with the latest aquaculture practices will further enhance the prospects of long-term success.

How to start a profitable shrimps and pawn Business in Nigeria. A comprehensive guide on how to start shrimp or prawn farming in Nigeria, covering key aspects such as site selection, species selection, farm setup, and management practices

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