Insurance for Panamanian Shrimp Production

ISA, the Agricultural Insurance Institute, offers a new insurance protecting shrimp production nationwide.

Friday, November 27, 2009

This product was born as a request from shrimp growers from the Coclé region, who had sustained heavy losses due to river floods.

"In order to be insure their production, shrimp growers from all the country need only to request it at their regional ISA office", commented Rubén Darío Campos, ISA's national director.

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The disease affecting shellfish in Asia has driven up prices and benefited exporters in the region.

The lesser supply of shellfish has led to an increase in international prices which has in turn increased the value of exports sent from Central America.

In Nicaragua alone sales between January and October this year amounted to $75.6 million, representing an increase of 12% over what was exported in 2012.

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The industry has shown good growth over the last two years, going from around 38 million pounds in 2011 to about 60 million in 2013.

The figures were provided by the National Aquaculture Association of Honduras (Andah), which added that over the past three years they have managed to increase harvest of the product without increasing the area of ​​land being used, which is still approximately 18,200 hectares.

Nicaraguan Fishing Industry Recovers

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The sector, which showed a decline of 3% in January 2012, expects to close the year with growth of 4.6%, led by the production of farmed shrimp.

Armando Segura, executive director of the Chamber of Fisheries of Nicaragua (CAPENIC), said, "It's been a substantial recovery, we are reversing the trend from earlier this year."

Rains Affect Shrimp Production in Honduras

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Flooding causes million dollar losses to shrimp producers in the south.

Losses amount up to a million pounds, according to Onan Hernandez, a producer from the Choluteca area.

Proceso Digital reports, "He said the floods made water levels rise, the shrimp jumped the edges of the shrimp farms and caused losses.”