New fund for more responsible shrimp
The Sustainable Trade Initiative (IDH) has launched the Farmers in Transition (FIT) Fund at the European Seafood Exposition in Brussels.
The FIT Fund will support and co-fund farmer’s transition towards responsible shrimp production. Responsible production will reduce negative impacts on the environment and local communities, while complying with food safety requirements.
Due to a rapid growth in shrimp production in Thailand, Indonesia, India and Vietnam, despite generating substantial income, serious sustainability challenges have also been generated, such as damage to ecologically sensitive habitat, land grabbing, water pollution, banned antibiotics residues and social issues with workers and/or communities.
Ted van der Put, program director Aquaculture at IDH said, “Responsible shrimp production will not only safeguard the environment and improve social performance of shrimp farmers; it will also help future proof the sector. An increasing number of retailers and food service companies formulate sustainable buying requirements. Shrimp farmers and traders that can’t meet these requirements may well be out of business in a couple of years ’.
The US-based David and Lucile Packard Foundation has indicated its interest to develop a partnership in support of the FIT Fund, and the Fund is also actively reaching out to other organisations to strengthen the Fund and widen its scope.