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    Home > Food News > Food Articles > The Philippines approved $10 million in outbreak-related aquaculture incentives

    The Philippines approved $10 million in outbreak-related aquaculture incentives

    • Last Update: 2021-01-13
    • Source: Internet
    • Author: User
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    The Philippine Ministry of Agriculture has allocated 500 million Philippine pesos ($10.4 million, 8.5 million euros) to help the country's aquaculture industry overcome the difficulties caused by COVID-19, Safeoodsources said on December 28.
    the stimulus package will support the farming of certain fish and aquatic species, such as glass eels, sea urchins and seaweed, and fund the construction of multi-species hatching farms in the country, The Philippine Star reported.
    is under way to distribute funds nationwide, which is expected to help increase aquaculture production in the country by 9,600 metric tons (MT).
    , the Philippine Press Agency reported that it planned to borrow $200 million (176 million euros) from the World Bank to fund a project aimed at improving domestic fisheries production and protecting its "blue economy" resources.
    is approved, the project is expected to start in October 2021.
    third quarter, fisheries production in the Philippines increased 2.9 percent year-on-year to 1.02 million tons.
    fell 2.7 per cent year-on-year to 4.86.7 million tonnes, according to the Philippine Bureau of Statistics.
    capture has increased for many species, including big-eyed tuna (up 39.9 per cent YoY), Bali Sardine (up 31.5 per cent YoY), blue crab (up 25.6 per cent YoY), and yellowfin tuna (up 16.1 per cent YoY) Frigate tuna (up 13.6% YoY) and round(up 12.9% YoY), fish scale sardine production decreased by 21.8% YoY, and tiger shrimp and mud crab production decreased by 11.3% yoY and 9.7% YoY, respectively.
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