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eFishery announces completion of commercial pilot in India
December 14, 2023 By Hatchery International staff
Indonesian aquaculture tech company, eFishery has announced the completion of its commercial pilot in India.
eFishery works on providing advanced solutions within the aquaculture ecosystem for fish and shrimp farmers.
The pilot project started in March, acquiring over 1,000 acres of ponds under contract and distributing more than 3,000 metric tons of feed. This achievement brings it closer to expanding its footprint to five new Indian states by the end of 2024. The company is also eyeing opportunities for global expansion in Asia and Latin America within a year while continuing to export shrimp products overseas.
Gibran Huzaifah chief executive officer and co-founder of eFishery said India is a key part of the company’s overall growth strategy.
“Beginning with the Indian pilot project, I take pride in our global impact, unlocking the potential of aquaculture worldwide through Indonesian-made technology, resulting in a remarkable average two to three-fold increase in farmers’ profit,” Huzaifah said.
“We recognize the potential and value of tapping into the Indian aquaculture market, which mirrors the size and structure of the Indonesian market, both dominated by small and medium farmers. By supporting them as partners, these key contributors to local and regional food security help ensure a sustainable and accessible source of protein for global communities.”
India’s aquaculture industry is valued at over US$15 billion and has grown at less than eight per cent Compound Annual Growth Rate for the last 30 years. Yet, farmers in India face challenges such as poor market linkage, inconsistent and non-beneficial pricing schemes, delayed payment terms, and a lack of basic farm management information, protocols, technology, and innovation.
Ch. Veera Nageswar Rao is a fish farmer from Kakinada District and an e-fishery partner said his collaboration with eFishery has “been a game-changer for my small farm.”
eFishery has conducted a thorough market and strategy assessment beginning its operations in Andhra Pradesh, an Indian state contributing to 35 per cent of the country’s total aquaculture production.
Neil Wendover, eFishery’s international expansion lead said, “Our business objectives are centred on solving problems for the farmers and improving profitability through heightened productivity and efficiency. Rather than dividing the aquaculture pie, we are essentially doubling the size.”
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