December 26, 2006

Vitarich introduces new aquaculture feed

Pioneer feeds firm Vitarich recently showcased its latest aquaculture feed formulation aimed at bringing the industry into the export market.

Vitarich chairman and president Rogelio Sarmiento told the Philippine Star Daily the company's expertise in advanced technology and high quality standards in the aquaculture industry will elevate not only the Vitarich's market competitiveness locally but will fast track its expansion to foreign markets.

With the advent of new technology, Sarmiento noted that it is now possible for fish farmers to use feeds to increase production of high-value fish that include sea bass, grouper and tiger fish, among others.

Sarmiento said continued growth of the local milkfish industry and seasonal oversupplies necessitate the development and expansion to new markets abroad. The Philippines is currently exporting milkfish to the European Union, Japan and the US.

Milkfish production in the Philippines is showing an upside trend producing 236,000 metric tonnes in 2004 with a total value of P15 billion or more than US$ 300 million and direct employment of 30,000. On the average, the per capita consumption of bangus is 2.8 kilogrammes or seven percent of total fish intake.