Taiwan breeders see big profits in rare shrimps

TAIPEI (AFP) - – Taiwanese breeders said Saturday they are hoping to make huge profits from a rare species of ornamental shrimp after a pair sold for 8,500 US dollars at auction.

The "Black King Kong" shrimps are gaining popularity among aquarium fans after it was developed by Taiwanese breeders last year, said Sharman Chou, secretary general of Taiwan Aquarium Association.

The shrimp are also among the main attractions at an aquarium show being held in Taipei this week, organisers said.

The black-and-white shrimp, which averages 1.5-2.5 centimetres (0.59-0.98 inch) long and has a lifespan of 16 months, fetched the record 8,500 US dollar price at an on-line auction held in Japan in May, Chou said.

"Currently the demand far exceeds the supply so we see huge market potential for the shrimp because they are rare and very challenging to breed," he said.

So far five Taiwanese breeders can only produce fewer than 100 shrimps a month as the shrimps have a survival rate of about 10 percent, Chou said.

A 1.5-centimetre Black King Kong is priced between 1,300 and 1,500 US dollars for export and can cost more in auctions, Chou said, adding buyers are either breeders or those who want to "show off" rare pricey aquatic pets.

Taiwan's ornamental fish market is valued at 300 million Taiwan dollars (9.23 million US dollars) a year while authorities are planning to invest 2.5 billion Taiwan dollars in four years to boost the industry, reports said.