Prawn industry calls for credit line

The lucrative prawn industry which has earned Rs. 45 billion since 2006 as foreign exchange earnings needs a credit line at low interest to promote new investors in succeeding the failures as many farms have been abandoned.

This is because the banks have suspended granting loans to the industry on account of non performance by some investors due to diseases, President, Consortium for the Development of Aquaculture David Edirisinghe said.

“In 2007 a progressive revival is observed in the NWP with the Treasury funding infrastructure development costing Rs. 1 billion for the Dutch Canal restoration and monitoring by NAQDA. The global demand on cultured prawns have increased tremendously although prawns are a luxury sea food item.

“The consumer demand and the housewife choice is increasing day by day for its taste and it is made available in many ways to suite the consumers, he said.