The global demand for farmed shrimp is growing. Retailers and buyers want to secure their future supply, meet sustainable requirements to satisfy consumer demand and avoid negative perceptions. IDH started the Farmers in Transition Fund (FIT Fund) to support farmers to implement more sustainable practices that meet buying requirements and help to future proof the sector by improving social and environmental performance.
Growing Market for Farmed Seafood:
More than half of the seafood we consume is farmed. There is a growing demand for responsibly farmed seafood and related business opportunities.
Challenges for Shrimp Farmers:
Competition among shrimp producers is harsh. Serious production risks occur when best practices are not followed. The sector is confronted with food safety risks and criticism due to poor environmental and social performance.
Retailer Requirements:
Retailers and food service companies increasingly adopt responsible certification schemes and/or internal responsible sourcing guidelines.
Support and Capacity Building:
These buying requirements create strong incentives for producers to improve farming practices. At the same time, these improvements require investments, advice, business plans and training.