The Philippines shrimp production to remain stagnant

Published 2021년 11월 10일

Tridge summary

The Philippine shrimp industry is projected to maintain production at around 60,000 metric tons for the rest of the year, a slight decline from the average production of 65,000 MT over the past 20 years, due to lower demand caused by the COVID-19 pandemic. The industry's annual average growth rate over the past 20 years was 2.4 percent, and the government is optimistic that this can be sustained. The government is ready to provide technical assistance and post-harvest facilities to support the sector, which provides significant income, jobs, and secures food supply for the country. The 13th Philippine Shrimp Congress brought together stakeholders to promote and support the growth of the industry.

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Original content

The country’s shrimp production will remain stagnant for the rest of the year amid lower demand, one of the impacts of the COVID-19 pandemic to the local aquaculture sector. During the 13th Philippine Shrimp Congress, Chris Co, vice president of Oversea Feeds Corporation, said the industry estimate is that the Philippines’ shrimp production will be around 60,000 metric tons (MT), a slight decline from the average production of 65,000 MT over the last 20 years. This, he said, is mainly due to weak purchasing power of many Filipinos during the pandemic, pushing producers to intentionally lower production. “During the pandemic, a lot of farms on the ground reduced stock density to take into account the effects of lockdown. There is a problem with purchasing power. If the economy continues to re-open, then the industry will also ramp up production,” Co said. According to Co, because of the gradual re-opening now, there has already been slight improvement in the farm-gate prices of ...

Source: Mb