May 30, 2008

Philippine shrimp industry to intensify research, boost yield

The Philippine shrimp industry highlighted the need to focus on research and development and boost output, during the 6th Philippine Shrimp Congress in Bacolod City.

The country aims to tap on more overseas markets as the global shrimp industry expands.

The Philippines is currently 10th in world shrimp production.

In 2007, the shrimp industry earned around US$34 million, largely from its main markets Japan and Korea.

However, the country's sales decreased due to high fuel prices and a stronger peso this year.

A study by the Philippine Institute of Development Studies (PIDS) in 2000 reported that the high cost of prawns and shrimps is attributed to the low survival rate of prawn larvae, estimated at only 20 percent and the lack of refrigerated transport in bringing prawns to the market.

The PIDS study recommends changes in farm management practices to counter the problem in the aquaculture sector.