February 4, 2009

The Philippine government expects fisheries production to grow faster this year than in the past two years, the head of the Fisheries bureau Monday (Feb 2) said.

The Bureau of Fisheries and Aquatic Resources (BFAR) director, Malcolm I. Sarmiento, Jr. said BFAR projected a 7 percent fisheries output growth this year, up from the 5.78 percent rise recorded last year and 6.8 percent growth in 2007.

According to data shown from the Bureau of Agricultural Statistics (BAS), value of fisheries production rose to P85.328 billion last year from P80.661 billion in 2007.

Production growth target this year has been set at 10 percent to 12 percent for aquaculture, 4 percent for commercial fisheries and 4 percent for municipal fisheries.

Sarmiento added that the bureau was still wary of another round of huge increases in fuel prices this year.

Last year, less fishing operations due to successive increases in prices of fuel, which account for up to 70 percent of operating costs, prompted the Fisheries bureau in August to revise municipal and commercial fisheries output growth to 3 percent and 8 percent from 10 percent each.

BAS data also showed full -year municipal and commercial fisheries output growth slowed to 2.78 percent and 2.19 percent, respectively, from the 10.3 percent and 5.57 percent growth in 2007.

To date, there are 36 mariculture parks, caged areas in the sea that host fish cages breeding high-value fish like bangus, siganid, groupers and red snappers.

The fisheries sector accounts for a quarter total farm output.

US$1 = P47.46 (Feb 4)