'There's money in shrimp'

The Fish Site
by The Fish Site
5 April 2007, at 1:00am

MICRONESIA - Northern Marianas College-Cooperative Research Education and Extension Service aquaculture consultant Michael M. Ogo said shrimp farming could be a moneymaking venture for small or big businesses in the CNMI.

Ogo, who just completed a workshop at the NMC Saipan campus, said he shared with at least four participants during last week's workshop the opportunities the shrimp industry could bring to the CNMI economy.

His workshop, “Business Opportunities in Shrimp Broodstock Industry,” was intended to illustrate the potential financial rewards that this industry could bring farmers and other potential growers.

Ogo said they could sell the breeder shrimps to Asia for at least $20 per breeder. “Asia is the main producer of shrimps, which they then export to Japan and the U.S.,” he said.

Ogo said shrimp farming could be a lucrative business, which could uplift their standard of living and eventually help the economy of the CNMI.

The CNMI has advantages in this industry. First, Ogo pointed out that Saipan is near Asia, which means a shorter travel time when delivering shrimps, resulting in a lesser mortality rate.

Source: Saipan Tribune