Bamboo and seaweed producers in the Philippines seek P2.2 billion government budget

Published Sep 4, 2022

Tridge summary

Local producers are seeking a budget allocation of P2.2 billion from the government to boost the economic potential of bamboo and seaweed industries, particularly in exports. The seaweed industry, the world's second-largest producer of carrageenan, is looking for a return of their P200-million annual budget allocation, while the bamboo industry wants P2 billion out of the P2.7 billion previously allocated. Both industries believe that increased funding will significantly help their growth. The seaweed industry also aims to promote seaweed farming, establish institutional support, and technical training, while the bamboo industry wants to develop commercial plantations and is seeking to counter disinformation about carrageenan in the US.

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Original content

Local bamboo and seaweed producers are asking the government for P2.2 billion budget allocation to achieve the full economic potential of these products, especially in the exports market. In a press conference by the Philippine Chamber of Agriculture and Food, Inc. (PCAFI), the Philippine Bamboo Foundation said they would ask the government to allocate P2 billion out of the P2.7 billion previously allotted to the industry. The Seaweed Industry Association of the Philippines also urged the government to return to their P200-million annual budget allocation way back in 2012 from the current P40 million. Both groups said providing more budget will go a long way in helping the two local industries. In the case of the seaweed industry, Jimbo Pedrosa III, chairman of Seaweed Industry Association of the Philippines, said the Philippines is the world’s second largest producer of carrageenan, made of seaweed used in different applications from food to cosmetics and medicines. Pedrosa said ...

Source: Mb