November 27, 2007

CP Prima signs deal with Indonesian shrimp farmers

PT Central Proteinaprima (CP Prima), the world's top integrated shrimp producer, signed an agreement with local shrimp farmers called the "core-plasma" scheme.

As per the agreement, farmers were grouped under PT Wachyuni Mandira (WM) which will act as a nucleus for making loans, traning and supervision of the farmers. WM in return will sell their produce to the company.

The agreement also established standard operating procedures for profitable, sustainable shrimp farming.

The farmers will now work on some 20,000 hectares of dedicated land with some 3,220 shrimp ponds.

Rizal Shahab, CP Prima's corporate communication director, said that the agreement is beneficial to both parties.

Herwindo, chairman of the Indonesian Fishery Entrepreneurs Association, lauded the deal, saying it would benefit all stakeholders involved, including the government.

He recommended for other smaller companies in the industry to apply the partnership model developed by CP Prima.

CP Prima is Indonesia's market leader in shrimp fry, shrimp feed and fish feed production. CP Prima now has 50,000 hectares active in schrimp farming.