From Seafoodsource on December 28, the Philippine Department of Agriculture has allocated 500 million Philippine pesos (10.4 million US dollars, 8.5 million euros) to help the country’s aquaculture industry overcome the difficulties caused by COVID-19.
According to The Philippine Star, the stimulus plan will support the cultivation of certain fish and aquatic species, such as glass eels, sea urchins and seaweeds, and provide funding for the construction of multi-species hatcheries in the country.
A nationwide distribution of funds is underway. The funding project is expected to help increase the country’s aquaculture production by 9,600 metric tons (MT).
In June this year, the Philippine Information Agency reported that the country plans to borrow US$200 million (EUR 176 million) from the World Bank to fund a project aimed at improving domestic fishery production and protecting its”blue economy” resources. Once approved, the project is expected to start in October 2021.
Fishery production in the Philippines in the third quarter increased by 2.9%year-on-year to 1.02 million tons. Statistics from the Philippine Bureau of Statistics show that aquaculture production fell by 2.7%year-on-year to 4.86.7 million tons.
The catch of many species has increased, including bigeye tuna (up 39.9%year-on-year), Bali sardine (up 31.5%year-on-year), blue crab (up 25.6%year-on-year), yellowfin tuna (up year-on-year growth) 16.1%), frigate tuna (up 13.6%year-on-year) and trevally (up 12.9%year-on-year), the production of fish scale sardines decreased by 21.8%year-on-year, and the production of tiger shrimp and mud crab decreased by 11.3%and 9.7%respectively.