DoF pushes for improved PH fish output
THE Department of Finance (DoF) is pushing for technological advancements and a comprehensive seafarming program to bolster the Philippines’ fish yield.
In an economic bulletin on Thursday, the DoF said “aquaculture produces more than half of total fish supply in the economy,” but noted that growth has been declining since 2011.
According to the Finance department, the value fishing added to the country’s gross domestic product continued to register negative growth, dropping by 4 percent in 2016 and 0.9 percent in 2017.
In the first quarter of 2018, gross value fell by 3.7 percent to P26.6 billion from P27.6 billion in the same period last year, it said.
“Climate change may be the biggest factor in the production of fisheries,” the DoF added, noting that only 4.32 million metric tons of fish were caught in 2016, representing a -6.31 percent drop.
The department blamed the decline on a severe drought in 2015 and early 2016.
“During El Niño episodes, the water temperature rises, thus [forcing]fish to move to colder, deeper waters,” the DoF said.
“Also, rougher seas ensue as typhoons and monsoon rains intensify, thus increasing the danger to fishing activities,” it added.
The department also said the reduced production rate led to rising fish prices, noting that fish inflation grew by 7.5 percent in 2017 and 12.1 percent in the first quarter of 2018.
In June, prices climbed to 11.2 percent and contributed a 0.6 percentage point to total inflation last month.
To address these, the DoF said introducing innovative ways of aquafarming is important to ensure sufficient supply.
“A comprehensive program to ensure [the]sustainability of seafarming needs to be put in place. This should include, among others, appropriate environmental management,” it added.
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