Hilsa is regarded as more than just a fish in our country, as it holds emotional and cultural value beyond its being a food. It represents our tradition, identity, and national pride. PRAN RFL's initiative to produce hilsa indoors using a Re-circulating Aquaculture System (RAS) has sparked both excitement and doubt. The key question is clear: can this ambitious initiative be made financially sustainable?
Globally, there is considerable evidence of profitable indoor fish farming using high-tech aquaculture. The success of global aquaculture leaders demonstrates the financial potential of indoor fish farming. Global giants such as SalMar, Mowi, and Leroy Seafood Group have built billion-dollar industries by producing fish like salmon and trout in controlled environments.
In 2024, Mowi earned over $1.73 billion in profit, with operating margins of around 15-20 per cent, through the use of RAS tanks, automated feeding, and precise environmental control. SalMar and Leroy have generated similar profitability, highlighting that technology, experience, and scale make indoor aquaculture a lucrative and predictable business.
Through the use of RAS technology, the indoor production of other high-end species such as barramundi in Australia (generating $54-$86 million in annual profit) and yellowtail in Japan and New Zealand has also become a reality. This demonstrates that RAS technology can turn premium fish into profitable ventures. However, PRAN RFL faces a different challenge when it comes to farming hilsa indoors. Hilsa's migratory nature-its natural movement between rivers and the sea-makes indoor farming extremely challenging. The project requires a massive investment of Tk 430 crore, yet no commercially proven indoor production currently exists.
Forecasting revenue is highly uncertain, and profitability depends entirely on whether consistent yields can be achieved. Unlike global giants with years of experience in this sector and stable export markets, PRAN RFL is entering an experimental phase without prior references and amid technological uncertainties.
Global evidence shows that indoor fish farming can be highly financially sustainable, but only with proven technology, predictable yields, and experience. Without achieving consistent and reliable hilsa production, PRAN RFL's initiative remains a bold but financially uncertain venture. Farming fish like hilsa is not just an innovation; it is about proving whether technology can successfully transform Bangladesh's most iconic fish into a profitable and sustainable business model.
Samya Ahmed Labonya
Student
North South University
samyalabonya@gmail.com