Canares Aquaculture LLP to set up seabass start up hatchery in India

ICAR-CIBA’s quality seeds in demand among aqua-farmers across the country

The Indian Council of Agricultural Research-Central Institute of Brackishwater Aquaculture (ICAR-CIBA) has announced the signing of an MoU with the start-up Canares Aquaculture LLP at Karnataka’s Kumta for transfer of sea bass seed production technology.

 ICAR-CIBA Director K K Vijayan told IANS that this is the first attempt in the country in setting up a sea bass hatchery in private sector on a start-up mode. According to him, the ICAR-CIBA has charged Rs 5 lakh for transfer of technology and 10 per cent royalty on the net profit of the company.

Canares Aquaculture will get the sea bass eggs and brooder from the ICAR-CIBA, rear it in its tanks for about two-and-half months and then sell it to the farmers. ICAR-CIBA will also provide the necessary knowhow, and technology in sea bass breeding.

Presence of a well-established value chain for sea bass is very evident from spawn to harvest size, where huge demand exists among the farmers for the range of hatchery and farm-produced seeds.

A grown-up sea bass above one kg size fetches a market price in the range of Rs 450-750, again with smart profits for the sea bass farmer.