Seeing bright prospects in the country’s aquaculture industry, the government plans to allocate P453.5 million to fund a program that will improve the sector until 2020.
Dr. Rafael Guerrero III, executive director of the Philippine Council for Aquatic and Marine Research and Development (PCAMRD), said aquaculture has contributed the largest share to the country’s total fisheries production since 1996.
The program is part of the long-term strategic plan for the agriculture sector of various government agencies, including PCAMRD, the National Academy of Science and Technology, and the Philippine Council for Agriculture Forestry and Natural Resources Research and Development, all attached agencies of the Department of Science and Technology, the Department of Agriculture and the Department of Environment and Natural Resources.
Guerrero said the plan, dubbed as “Philippine Agriculture in 2020,” is a strategy for food security, competitiveness and sustainability.
He said the investment requirements for the aquaculture industry until 2020 will be generated from both public and private institutions.
Foreign institutions will also be tapped to fund some action programs, he added.
Guerrero said aquaculture is one of the fastest growing food production systems in the world and is one of the “brightest spots” of the Philippine economy.
“Aquaculture refers to fisheries maintained by the stocking of fry, fingerlings, etc. coming from aquaculture facilities such as hatcheries and nurseries grown in man-made structures, such as ponds and cages, in artificial or natural water bodies,” he said.
Guerrero said aquaculture had an average growth rate of 12 percent from 2001 to 2005.
In 2005, the top aquaculture species in the country were seaweeds (70 percent), milkfish (15 percent), tilapia (nine percent), and tiger prawn (two percent), with a total production of 1,895,847.31 metric tons.