Marine Products Export Development Authority (MPEDA) of Government of India and COOP Cooperative one of Switzerland’s leading companies, have inked an agreement that will boost fish farming in Kerala, Media reports.
However, the success of the deal will mainly hinge on the government allowing permanent use of the land for aqua farming and COOP’s analysis of the quality of water.
Sources say MPEDA will identify entrepreneurs for production of organic shrimp while COOP will offer expert advice and buy back the shrimps produced.
COOP with a vast network of sales outlets across Europe will procure the processed organic shrimp at a premium of 15 per cent with an additional 5 per cent finance for development activities including training.