July 8, 2008

Philippine fisheries may achieve 8 percent growth amid typhoon havoc

The Philippine government is confident that the country's fisheries industry may still post an 8-percent output growth this year amid the wreck that typhoon Frank brought to the commercial and municipal fisheries in Region 6 (Western Visayas) and Romblon.

Malcolm Sarmiento, director of the Bureau of Fisheries and Aquatic Resources (BFAR) said the aquaculture subsector may fill the possible shortfall in the production of commercial and municipal fisheries.

He expressed optimism that the commercial fisheries sector will continue to contribute to the growth of the fisheries sector for the year after the Department of Agriculture, under which BFAR is attached, formed a task force to help commercial fishermen avail themselves of loans from the Agriculture Competitiveness Enhancement Fund (ACEF).

The task force, formed in June 27 this year, aims to speed up the availability of ACEF loans ranging from P10 million to P15 million per applicant, Sarmiento said.

The BFAR chief disclosed that around 70 small- and medium-sized commercial fishing vessels were destroyed by Typhoon Frank, and most of them came from Region 6. One vessel, he said, costs anywhere from P5 million to P10 million.

Usually, fishing vessels from Western Visayas seek shelter in Romblon but the typhoon directly hit Romblon which caused big casualties to commercial fishing vessels.

For January to March of this year, the total volume of fisheries production grew by only 4.10 percent. For the period, the crops subsector propelled farm growth instead of the fisheries sector, as has been the case in recent years.

Commercial fisheries posted a 6.06-percent production gain while aquaculture expanded by 6.68 percent. Municipal fisheries registered a 2.08-percent decline in output.