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Entrepreneur Success Stories --> Fish Farming






The grit and determination with which some of the farmers who have succeeded despite the odds against them has served as a valuable guide for others.

Mr. Ashok Kumar Singh of Daiya Kharwa village in Madhubani district, Bihar, is a good example of perseverance and entrepreneurial spirit, inspired by role models.

His fish farm is situated in a remote corner of the State. Absence of motorable roads, and the distance from the main city can easily deter even the most optimistic farmer, but not Mr. Ashok Singh.

Initial start

"I first started fish seed production in 2001 in partnership with a local hatchery owner after completing my matriculation. Earlier I reared fish two ponds in about 5 acres by purchasing fish seeds from nearby hatcheries," he says.

What brought him into fish seed business?

"I was attracted to fish seed production business as I heard about the high profit margin in the business and gained basic knowledge of fish seed production while working as a partner in a hatchery in my village.

Through a common acquaintance I was introduced to Dr. Tuntun Singh, Fisheries specialist, in Darbhanga who helped me establish several new hatcheries," he explains.

According to Dr. Tuntun Singh, in 2004 Mr. Ashok invested about Rs. 15 lakhs (his own money of Rs. 5 lakh andRs.10 lakh borrowed from several private moneylenders at exorbitant interest rates of 24-30 per cent) and established his own hatcheries on his own two ponds of five acres.

Turnover

His business turnover was a little more than Rs. 15 lakh in the first two years but a major part ofthe profit was drained in repaying the loan and interest to money lenders. But he did not lose hope and his perseverance paid. His labour and managerial ability were recognized by the local banks.

A nationalised bank granted him a loan of Rs.14 lakh for expanding his hatchery infrastructure.

He improved and expanded the infrastructure on scientific lines and rented 21 ponds in and around his village.

"At present the total water area of my rented ponds is about 55 acres which is sufficient to multiply the spawn into fry (small fishes) of saleable size. I grow mainly Rahu, Catla, common carp, grass carp and mrigal breeds," says Mr. Ashok Singh.

During last two months he has sold fish seeds to about Rs. 30 lakh and earned a net profit of about Rs.15 lakhs and has repaid all the private loans and cleared the bank dues (within two years.)

Market

The purchasers of his fish seeds mainly come from western parts of Bihar, particularly from Chapra, Revaghat, Bettiah and Muzaffarpur.

These fish farmers travel more than 100 kms to purchase the seeds from Mr. Ashok’s hatchery because of its quality.

Does he give credit to his customers?"

No, the sale of fish seed is always on cash payment. There is no system of credit sale of fish seeds in Bihar," he says.

Rent slab

According to Dr. Tuntun, the main problem of fish production in Bihar is the high rent of fish ponds which ranges from Rs. 30,000 to Rs. 40,000 for an acre of pond whereas Government ponds are hired-out at the rate of Rs. 14,000 per pond and is generally leased –out to traditional fishermen who have fishing as their main source livelihood.

For more information readers can contact Dr. Tuntun Singh, Fisheries expert, Office of deputy Director, Fisheries, Darbhanga, Bihar, mobile-9431086114 and the farmer Mr. Ashok Kumar Singh through mobile at 9934494647



This post first appeared on Megatrendz, please read the originial post: here

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Entrepreneur Success Stories --> Fish Farming

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