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    Project Briefs in Shrimp Paste - DTI Region 12

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    Nap Missionnaire
    Shrimp paste is a common ingredient in Southeast Asian cuisine made by fermenting ground shrimp with salt. This document outlines a proposed project to promote shrimp paste processing in Region 12 of the Philippines. The project aims to attract investors and create jobs. It describes the production process for bagoong alamang shrimp paste including ingredients, equipment needed, operating costs, sales projections, and financial analysis showing the project would have a 41.2% return on investment and payback period of 2 years and 12 days.

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    Project Briefs in Shrimp Paste - DTI Region 12

    Uploaded by

    Nap Missionnaire
    857 views6 pages
    Shrimp paste is a common ingredient in Southeast Asian cuisine made by fermenting ground shrimp with salt. This document outlines a proposed project to promote shrimp paste processing in Region 12 of the Philippines. The project aims to attract investors and create jobs. It describes the production process for bagoong alamang shrimp paste including ingredients, equipment needed, operating costs, sales projections, and financial analysis showing the project would have a 41.2% return on investment and payback period of 2 years and 12 days.

    Original Description:

    Basic Information on Shrimp Paste Production Investment Cost

    Original Title

    Project Briefs in Shrimp Paste- DTI Region 12

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    Shrimp paste is a common ingredient in Southeast Asian cuisine made by fermenting ground shrimp with salt. This document outlines a proposed project to promote shrimp paste processing in Region 12 of the Philippines. The project aims to attract investors and create jobs. It describes the production process for bagoong alamang shrimp paste including ingredients, equipment needed, operating costs, sales projections, and financial analysis showing the project would have a 41.2% return on investment and payback period of 2 years and 12 days.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    857 views6 pages

    Project Briefs in Shrimp Paste - DTI Region 12

    Uploaded by

    Nap Missionnaire
    Shrimp paste is a common ingredient in Southeast Asian cuisine made by fermenting ground shrimp with salt. This document outlines a proposed project to promote shrimp paste processing in Region 12 of the Philippines. The project aims to attract investors and create jobs. It describes the production process for bagoong alamang shrimp paste including ingredients, equipment needed, operating costs, sales projections, and financial analysis showing the project would have a 41.2% return on investment and payback period of 2 years and 12 days.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 6

    RATIONALE

    Shrimp paste or shrimp sauce, is a common ingredient used in Southeast


    Asian and Southern Chinese cuisine. It is known as terasi (also spelled trassi,
    terasie) in Indonesian, ngapi in Burmese, kapi in Thai, Khmer and Lao language,
    belacan(also spelled belachan, blachang) in Malay, mm ruc, mm tp and mm
    tm in Vietnamese (the name depends on the shrimp used),bagoong alamang (also
    known as bagoong aramang) in Filipino, ginamos in Hiligaynon, haam ha/ha jeung in
    Cantonese, and Chinese andhom ha/hae ko (Pee h-e-j: h-ko) in Min Nan Chinese.
    It is made from fermented ground shrimp mixed with salt. Some versions are
    in its wet form such as those in Vietnam, while other versions are sun-dried and
    either cut into fist-sized rectangular blocks or sold in bulk. It is an essential
    ingredient in many curries and sauces. Shrimp paste can be found in most meals in
    Myanmar, Laos, Thailand, Malaysia, Singapore, Indonesia, Vietnam and the
    Philippines. It is often an ingredient in dip for fish or vegetables.

    OBJECTIVE
    This project aims to promote shrimp paste processing in Region 12. This is
    targeted to attract investors in venturing into such business and create more job
    opportunities for the people in the region.

    PROJECT DESCRIPTION

    Bagoong alamang or "Ginamos" (in Western Visayas) is Filipino for shrimp


    paste, made from minute shrimps or krill (alamang) and is commonly eaten as a
    topping on green mangoes or used as a major cooking ingredient. Bagoong paste
    varies in appearance, flavor, and spiciness depending on the type. Pink and salty
    bagoong alamang is marketed as "fresh", and is essentially the shrimp-salt mixture
    left to marinate for a few days. This bagoong is rarely used in this form, save as
    topping for unripe mangoes. The paste is customarily sauteed with various
    condiments, and its flavor can range from salty to spicy-sweet. The color of the
    sauce will also vary with the cooking time and the ingredients used in sauteing,
    such as: 60kg of fresh alamang; 40kg iodized coarse salt; and, 110L white vinegar.

    Procedure includes the following: Wash fresh alamang twice with running water.
    Remove any fish or seashells. Using a colander, drain for at least 3 hours. In a
    stainless or glass bowl, put the alamang and sprinkle salt. Mix well. Cover with a
    colander. Stand aside for 24 hours. If possible, put in direct sunlight but make sure
    that flies would not penetrate the mixture. After a day, put the alamang in a wok or
    kawali. Drizzle with vinegar. Do not mix at this point. Place over medium-high fire.
    Bring to boil. Keep boiling for 2 minutes or until fragrant. Mix well. Reduce fire to low
    and cook for 30 minutes or until all liquid evaporates. Stir every 10 minutes.
    Remove from pan. Place in a glass container. Let it cool. Cover tightly. Put inside the
    fridge for future use.

    CURRENT MARKET TRENDS AND OPPORTUNITIES

    Shrimp paste continues to be made by fishing families in coastal villages.


    They sell it to vendors, middlemen or distributors who package it for resale to
    consumers. Shrimp paste is often known for the region it comes from since
    production techniques and quality vary from village to village. Some coastal regions
    in Indonesia such as Bagansiapiapi in Riau, Indramayu and Cirebon in West Java,
    and Sidoarjo in East Java; as well as villages such as Pulau Betong in Malaysia or Ma
    Wan island in Hong Kong and in Lingayen Gulf, Pangasinan in the Philippines are
    well known for producing very fine quality shrimp pastes, which are then used in
    making salty dishes such as Pinakbet, Bicol Express and sometimes in fried rice.

    Recipes using shrimp paste are numerous. Known as a condiment in many


    Filipino foods, it is used in famous recipes such as: Binagoongang Baboy (Pork in
    Shrimp Paste); Pinakbet or Pakbet; Binagoongang Manok; Kangkong with Bagoong;
    Kare-kare; and, Manggang Hilaw with Bagoong alamang.

    Shrimp paste is sold in different packages in the markets of General Santos


    City. KCC Mall of Gensan displays the following brands: Golden Hands Kamayan
    (Bagoong alamang) @P62.05/340g, and Genrev Best Cook (Ginisang Bagoong -
    Sauteed Shrimp Paste) 2P65.00/260g. SM has Barrio Fiesta Bagoong, with its
    original, spicy and sweet variants of shrimp paste priced at P76.00/250g. Robinsons
    Mall displays Mothers Best Ginisang Bagoong (Sauteed shrimp paste)
    @P65.00/250g.

    FINANCIAL REQUIREMENTS

    Assumptions:
    - 1,200 kilos of Alamang are used in 1 month (60kilos/day)
    - 40kg of salt a month (2 kg/day)
    - 110L of vinegar a month (5.5L/day)
    - 260g per bottle
    - 8 hours of daily operation
    - 4 workers with P200/day salary
    -1 motorcycle driver with P200/day salary
    - Selling price is P60.00/bottle
    - 20 days of operation/month
    -Deliveries are during Fridays (4x/month)
    ASSETS PRICE LIFE SPAN DEPRECIATION EXPENSE
    (Php) (Php) MONTHLY
    (Php)

    Building 200,000.0 20 years 833.33


    0

    Motorcycle 80,000.00 10 years 666.67

    5 Colanders 325.00 5 years 5.42


    @65.00
    each

    5 Frying 1,780.00 5 years 29.67


    Pans
    @356.00
    each

    5 Stainless 2,175.00 5 years 36.35


    steel bowls
    @435.00
    each

    2 Gas Stove 1,840.00 5 years 30.67


    @920.00
    each

    Total 201,840.0 1,602.11


    0

    Total Project Cost

    Shrimp Paste Processing Amount (PhP)

    Assets

    Building 200,000.00

    Motorcycle (with back storage) 80,000.00

    5 Colanders @65.00 each 325.00


    5 Frying Pans @356.00 each 1,780.00

    5 Stainless steel bowls 2,175.00


    @435.00 each

    2 Gas stove @920 each 1,840.00

    Subtotal 286,120.00

    Working Capital

    Direct Materials P48,978.90

    Direct Labor P16,000.00

    Manufacturing overhead P5,163.1

    Operating Expense P42,294.00

    TOTAL PROJECT COST 396,983.00


    *Land acquisition not included.

    Projected Sales and Income

    Shrimp Paste Processing

    Particulars Amount (PhP)

    Sales in 1 month

    Plastic Container

    260g (4,600 units @ P60.00 each) P 276,000.00

    TOTAL SALES P 276,000.00

    Less: Cost of Sales


    Direct Materials (1 month)

    Vinegar (110L @ P 77.99/L) P8,578.90

    Salt (40 kg @ P20.00/kg) P800.00

    Alamang (1200kg @ P33.00/kg) P39,600.00

    Direct Labor
    4 workers ( P200.00/day) P16,000.00

    Manufacturing Overhead

    Electric bill P2000.00

    Water bill P1500.00

    2 LPG Tanks (831.55 each) P1,663.1

    TOTAL COST OF SALES P70,142.00

    Gross Profit P205,858.00

    Less: Operating Expenses

    Fuel Expense P3, 000.00

    Supplies Expense P4, 280.00

    Packaging Supplies

    Plastic Containers (@3.25 each*4600) P14,950.00

    Labeled paper sticker (@4.00 P18,400.00


    each*4600)

    Depreciation P1,602.11

    Salaries Expense (200.00/4 Fridays/Month) P800.00

    Net Income Before Tax P163,564.00

    Return on Investment (Average Net Income/TPC) 41.20%

    Gross Profit Rate (Gross Profit/Total Sales) 74.59%

    Net Profit Rate (Net Income/Total Sales) 59.26%

    Payback Period (TPC/Ave. net income)


    2 Months and 12 days
    Sources
    http://ro12.dole.gov.ph/default.php?
    retsamlakygee=253&resource=254074583392ba8af3ffb78f734ad54b
    http://prezi.com/itrs39nhkxzq/aquarius-food-
    inhttp://ro12.dole.gov.ph/default.php?
    retsamlakygee=253&resource=254074583392ba8af3ffb78f734ad54b dustr
    ies-inc/ (Acquarius Food Inc.)
    http://filipinostylerecipe.com/tag/shrimp-paste/
    http://en.wikipedia.org/wiki/Shrimp_paste
    http://www.testedkitchen.com/how-to-make-bagoong-fish-or-shrimp-
    paste/
    http://filipinofoodaficionado.blogspot.com/2011/10/binagoongang-baboy-
    pork-in-shrimp-paste.html
    http://dcookingmudra.blogspot.com/2008/08/bagoong-alamang-
    fermented-tiny-shrimps.html

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