Guyana’s Aquaculture Sector Eyes USD 2 Million from Shrimp Farming

Published on

The Onverwagt Shrimp and Prawns Production Facility, situated on the West Coast of Berbice in Guyana, has harvested 495 kilograms of prawns from a single pond. This modest, yet symbolically important, haul marks a new chapter in the country’s agricultural ambitions, with the facility expected to generate over USD 2 million annually.

The shrimp, while not yet the size of an oil gusher, offer a glimpse into a broader economic strategy.

Small Harvest, Big Potential

Speaking about the project’s promise, Zulfikar Mustapha, the Minister of Agriculture, emphasized the potential economic gains from the Onverwagt initiative. According to Mustapha, the prawn project is expected to deliver USD 2 million per year—a significant sum in Guyana’s drive to diversify its agriculture-dependent economy. The initial haul of 495 kg represents 70% of the pond’s prawn population, a striking figure that reflects both the facility’s management capabilities and its operational efficiency.

The remaining 30% of prawns are expected to be harvested within the next month, suggesting that the project’s focus on sustainable, incremental production is starting to bear fruit. With the global market price hovering around USD 15,000 per ton, the financial upside is clear: one prawn crop could yield as much as USD 750,000.

Scaling Up Shrimp Ambitions

Behind the figures lies a well-engineered plan. Raymond Latchman, the Project Engineer, described the latest harvest as a trial run, but one that will pave the way for larger and more regular yields in the future. The second pond is already stocked with 380,000 prawns, with the first full harvest expected in three months. It is an encouraging sign for a sector that has long been overlooked in Guyana’s agricultural calculus.

The long-term ambitions of the Onverwagt facility are considerable. The site will eventually include ten production ponds, along with three water storage and four nursery ponds. When fully operational, the facility is projected to produce 360 tons of shrimp annually, with three harvests per year. If this forecast holds, the revenue could top USD 2.2 million per year—a welcome contribution to Guyana’s growing export portfolio.

Environmental Stewardship and Market Expansion

The project is not only focused on volume but also on sustainability. The facility has constructed water storage ponds that allow it to treat and reuse wastewater, rather than discharging it into the nearby sea. In a region where environmental concerns are often secondary to economic development, this commitment to responsible practices stands out. By reducing its environmental impact, the facility positions itself as a model for future aquaculture projects in the region.

Moreover, the prawns harvested in this trial run have already found buyers, with the entire batch sold to an exporter for processing and export. This quick pivot from pond to market underscores the demand for Guyanese shrimp on the international stage. Latchman, reflecting on the harvest, expressed satisfaction with the prawn size and quality. While the first batch took longer to grow due to the project’s experimental nature, lessons learned will streamline future cycles.

Trending Articles

Ecuador’s Shrimp Exports: Navigating Troubled Waters

Ecuador's shrimp industry has long been a vital pillar of its economy, cementing the...

Shrimp Prices Soar as Supply Shortages Hit Ecuador and Europe

Shrimp markets in Ecuador and Europe have been experiencing a significant surge in prices...

Shrimp Leads Vietnam’s Seafood Industry Growth in 2024

Vietnam’s seafood industry has witnessed a steady resurgence, especially in shrimp exports, throughout the...

Brussels Pushes for Stricter Shrimp Quotas in 2025

This week, the European Commission (EC) unveiled a series of proposals aimed at limiting...

French Households Favor Shrimp as Seafood Sales Fall

In France, 2024 has been a year of changing tides in seafood consumption. While...

Black Tiger Shrimp Prices Fall as Japan’s Market Weakens

Vietnam, the largest supplier of shrimp to Japan, is experiencing a troubling trend. Prices of...

Shrimp Exports Drive Nicaragua’s Growing Trade Network

Between September 9 and 15, Nicaragua’s National Port Company (EPN) reported significant maritime activity across...

Grupo Aquamar Expands Shrimp Exports Across Asia

Founded in 2015, Grupo Aquamar operates across Honduras and Nicaragua, with an annual output of...

Shrimp Prices Soar as Supply Shortages Hit Ecuador and Europe

Shrimp markets in Ecuador and Europe have been experiencing a significant surge in prices in...

Louisiana Shrimp Industry Falters While Tourism Booms

Shrimp is America's favorite seafood, and nowhere is this more evident than in Louisiana. The...

Shrimping Rebound in Tamaulipas: A Post-Storm Boost for Local Economy

The shrimping fleet of Tamaulipas, Mexico, is set to reactivate employment for 2,400 shrimp harvesters...

Shrimp Leads Vietnam’s Seafood Industry Growth in 2024

Vietnam’s seafood industry has witnessed a steady resurgence, especially in shrimp exports, throughout the first...

Brussels Pushes for Stricter Shrimp Quotas in 2025

This week, the European Commission (EC) unveiled a series of proposals aimed at limiting the...