Reports Outline Risk Management Study Findings from Indian Council of Agricultural Research (ICAR) Central Institute Brackishwater Aquaculture [Assessment of Perceived Farming Risks, Communication of Risk Management Practices, and Evaluation of …]: Risk Management

2021 OCT 28 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- New research on Risk Management is the subject of a report. According to news originating from Tamil Nadu, India, by NewsRx correspondents, research stated, “Pacific white shrimp (Penaeus vannamei) farming is an important commercial aquaculture production system contributing substantially to the economic and societal development in India. Though technically efficient, shrimp farming is potentially susceptible to production risks.”

Financial supporters for this research include National Fisheries Development Board (NFDB), Govt. of India, National Innovations in Climate Resilient Agriculture (NICRA) Project of Indian Council of Agricultural Research (ICAR).

Our news journalists obtained a quote from the research from the Indian Council of Agricultural Research (ICAR) Central Institute Brackishwater Aquaculture, “A risk assessment study was undertaken to ascertain the potential risks in P. vannamei shrimp farming by developing a framework consisting of risk perception and assessment, communication of risk management practices, and evaluation of their efficiency in tackling the risks. The primary data collected from a proportionate randomly chosen 604 shrimp farmers across the coastal states revealed that P. vannamei shrimp farming was prone to twenty-seven risks having very low to very high probability of occurrence with marginally negative to a catastrophic impact on production and income. Appropriate risk-preventive and management measures were proposed and suitably communicated to the shrimp farmers through training workshops, farmer handbooks in vernacular languages, and launching a mobile app module on on-farm risk assessment. A follow-up study conducted among a random subset of the original sample indicated that 76% of the farmers adopted the proposed risk management practices and experienced that the practices were highly efficient (up to 80%) in tackling the risks associated with shrimp farming. Furthermore, it was observed that adoption of risk management practices is essential to have a successful shrimp production of marketable size and an additional expenditure for adoption of these practices was estimated to be 0.5 USD per kg of shrimp produced. Shrimp farming is a delicate and dynamic production system, and it is unrealistic to avoid the emergence of hazards in the production cycle.”

According to the news editors, the research concluded: “Therefore, it is imperative to train the farmers on better management practices (BMP) and develop a certification plan to accredit the farms for the adoption of BMPs that would ensure an economically viable shrimp production in India.”

This research has been peer-reviewed.

For more information on this research see: Assessment of Perceived Farming Risks, Communication of Risk Management Practices, and Evaluation of Their Efficiency In Pacific White Shrimp (Penaeus Vannamei) Farming-a Survey-based Cross-sectional Study. Aquaculture International, 2021. Aquaculture International can be contacted at: Springer, Van Godewijckstraat 30, 3311 Gz Dordrecht, Netherlands. (Springer - www.springer.com; Aquaculture International - http://www.springerlink.com/content/0967-6120/)

The news correspondents report that additional information may be obtained from M. Kumaran, Indian Council of Agricultural Research (ICAR) Central Institute Brackishwater Aquaculture, 75 Santhome High Rd, Chennai, Tamil Nadu, India. Additional authors for this research include P. R. Anand, J. Ashok Kumar, M. Muralidhar, K. P. Kumaraguru Vasagam and K. K. Vijayan.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s10499-021-00775-6. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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