Risk perception and assessment in pacific white shrimp farming: An exploratory study

Shrimp farming is a commercial aquaculture model therefore subject to risks. A study conducted among 240 randomly identified shrimp farmers indicated that shrimp farming is being operated at moderate to higher level of risks. Low market price and diseases with its causes were the major risks perceived and respondents differ in their risk perception based on their personal and farming characteristics. Modifications in crop planning and size at harvest in tune with market scenario, price insurance and promotion of domestic consumption are suggested as adaptations for market risk. Similarly quality seed selection, carrying capacity based stocking densities and adoption of farm biosecurity and good aquaculture practices were advocated as disease risk mitigation measures. In addition strengthening farmer associations and formation of fish farmer producer organizations are expected to empower farmers to deal with market forces, as well as enforce collective compliance for disease preventive and management practices at the shrimp clusters. Therefore, policy support for insurance, intuitional credit support and strengthening of farmer institutions as well as capacity cum skill development of shrimp farmers on risk identification, prevention and adaptation by the extension agencies are important for the profitable and sustainable shrimp farming in India.