October 12, 2006

 

Investors needed to develop Philippine milkfish industry

 

 

Philippine fisheries officials are inviting the private sector to venture into milkfish (bangus) fingerling production in the Eastern Visayas region to boost the operations of the government-operated hatchery here.

 

The hatchery in the region targets to produce two million bangus fries by the end of this year, acting director of the Bureau of Fisheries and Aquatic Resources (BFAR), Ernesto Hilvano, told Business World.

 

At present, the facility has an inventory of 100,000 pieces of bangus fry. To reach the targeted two million fries by December, Hilvano said they would need the help of the bangus fingerling farming sector.

 

He assured good returns from fingerling production.

 

For an initial capital of 25,000 pesos (US$500), a grower can purchase 100,000 pieces of fries at 25 centavos each which would grow to an equivalent of 500,000 pesos in three months.

 

The three-month-old fingerling measuring five inches may be sold at P5 each.

 

Hilvano said that return of investment for fingerlings is big as there is lesser expense and the fish is not so attractive to thieves.

 

The Fisheries bureau recently established the first milkfish hatchery in Eastern Visayas. Located at the bureau's Region 8 research centre in Barangay Tanghay in Guiuan, Eastern Samar, the hatchery has started supplying the region's fish cage operators with fries and fingerlings.

 

Fish cage operators here used to source their fingerlings from Bohol, Iloilo or Davao.

 

With the hatchery, Hilvano said mariculture park locators would no longer have to go outside the region to buy

fries and fingerlings and prices are cheaper.

 

He added that locators were impressed with the fish cage technology used in the region.

 

Aside from milkfish, he said BFAR staff also plan to produce groupers at the hatchery.