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Shrimp to contribute $600 M to PH’s farm exports

By Madelaine B. Miraflor

Multinational pharmaceutical and life sciences company Bayer said shrimp is poised to contribute as much as $600 million to the country’s total farm exports if its production will be backed by proper technology.

In a statement, Bayer Philippines said a “package of technology”, including its water treatment probiotic and efficient feeding, could cut the production cost of shrimp growers from P180 to P130 per kilo. The cost savings cover electricity cost.

Right now, feed and power comprise bulk of the production cost in aquaculture in general.

“Shrimp farmers have significantly cut costs by 38.5 percent from health practices that avert shrimp diseases and mortality, enabling them to potentially seize opportunities in Philippines’ shrimp export reaching to $600 million a year,” Bayer Philippine said.

Feed cost, according to Bayer Philippines, is determined through feed conversion ratio (FCR) which is computed as total feeds consumed and total harvest biomass. The lower the FCR the more efficient the production leading to cost savings and higher returns.

Bayer said that by using its products, feed cost could go down from ₱78 per kilo to ₱66 per kilo, while power cost could be reduced from ₱40 per kilo to ₱20 per kilo.

Right now, the country exports shrimps to other countries like Japan, United States, Korea, and Europe.

Two weeks ago, Agriculture Secretary William Dar said “the DA [Department of Agriculture] will work hard to push agriculture exports in the succeeding months as the sector is seen as a major foreign exchange earner with the ability to provide employment to a huge part of the country’s population.”

This was after exports of agriculture and fishery products provided the bright spot to the otherwise bleak picture of the country’s total trade numbers, inching up by 12 percent from January to March while the rest of the export commodities are down.


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/24/shrimp-to-contribute-600-m-to-phs-farm-exports/)

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