A man shows his seaweed farm located at the Sulu Sea, town of Sibutu in the province of Tawi Tawi. Tawi Tawi is a major producer of seaweeds in the country. –REM ZAMORA
At a time when demand for food is expected to shoot up as population grows and productivity in food production faces increasing challenges, agribusiness ventures are seen as future growth areas that need a push.
In a country endowed with 17,460 kilometers of coastline, aquaculture may be fertile ground for businesses both big and small.
Still, be it marine-based or land-based, farm activities present opportunities for both producers and buyers.
Joseph Martin H. Borromeo, president of the Philippine Association of Fish Producers Inc. (Pafpi), thinks domestic players need to work on the consolidation of a fragmented industry, which he said faces a “huge potential” as a driver of economic growth.
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Borromeo said the aquaculture sub-sector was primed to be the biggest source of food fish as output from wild capture fishing has reached a plateau.
“Asia including the Philippines is driving and will continue to drive growth in fish production as supplies lag behind demand,” Borromeo said.
