Seaweed industry players urged to avail of government financing

CEBU, Philippines - The Department of Agriculture (DA) as well as the Bangko Sentral Ng Pilipinas (BSP) is urging seaweed industry players to tap the available financing opportunities offered by different government agencies in order to sustain the industry’s strength amid threatening market situation.

“There are so many financing programs available for the industry sectors. For seaweed they have to closely coordinate with the Bureau of Fisheries and Aquatic Resources [BFAR]. They just have to tap these financing programs,” said DA-7 regional director Ricardo Oblena reacting to the recent pronouncement of the seaweed sector appealing for support from the government.

For her part, BSP director for Department of Economic Statistics Rosabel Guerrero, she said that they have opened the “Credit Security Fund” program of the BSP in October this year, availability of credit for micro to Small and Medium Entrepreneurs (SMEs) has now expanded.

“We further relaxed the loan application requirement in order to open credit [especially for micro and SMEs],” Guerrero said.

According to Oblena, seaweed is considered as one of the important sectors and alternative industry for the country’s aquatic resources sector.

He said the government is supporting the seaweed industry, urging players to coordinate closely with BFAR and discover the available funds for credit available for industry players.

During the recent Seaweed Industry Association of the Philippines (SIAP) board meeting, players are alarmed of the depleting supply of raw seaweed in the Philippines, and the continues shutdown of processing plants here.

“The bottom-line is we need the support from private and government sectors in expanding the seaweed farms in the Philippines. One way to encourage Filipinos to venture into seaweed farming is to make financing available for this purpose,” said SIAP president Benson U. Dakay.

According to Dakay, the industry needs to see more seaweed farming activities in the Philippines in order to sustain the supply shortage while, Indonesia pronounced a possible ban of seaweed exportation to other countries including the Philippines.

Dakay said the government in coordination with Local Government Units (LGUs) in the coastal communities should actively offer credit availability so that seaweed farming can become a promising alternative livelihood for residents in the coastal areas.

The Philippines is still the number one supplier of processed seaweed in the world. This position is facing a danger, if the Philippines will continue to produce lesser raw seaweed, and processors cannot import from Indonesia. —Ehda M. Dagooc