Shrimp Farming in the North Eastern Coastal Plain Zone of Odisha: A Micro-economic Analysis

Abstract

The Present experiment examines and evaluates the socioeconomic status of the household of shrimp farmers, aspects of shrimp cultivation, and the cost and return structures of shrimp farming. Through random selection, farmers from two distinct Balasore district blocks have been purposefully chosen for the study. Additionally, information on various costs and return streams from 40 farmers, twenty (20) from each block, has been gathered. The information was gathered from chosen farmers with the goal of examining the cost and return structure of shrimp farming. Step-by-step regression analysis was used to identify the elements that affect shrimp farming yield when compared to seasonal paddy cultivation. To identify the important variables the Cob-Douglas production function has been used through a stepwise regression model where the cost of feed, amount of labor both for operation and management, and the duration of cultivation in a particular pond are highly significant and the model is also significant in the selected region. From the correlation matrix, the degree of association has also been presented in the discussion.  The model is finally 96.8% significant with a 5% threshold of significance in the fifth stage. As a result, it is clear that this model is highly significant at the 5% level of significance, meaning that the independent variables can account for 96.8% of the dependent variable (productivity). It is found that each of the models is highly significant at a 5% level of significance.