BFAR allocates P3 million to assist seaweed sector

CEBU, Philippines - The Bureau of Fisheries and Aquatic Resources (BFAR) vowed to allocate at least P3 million financial assistance in order to help the struggling seaweed industry in the Philippines.

“We recognize the potentials to grow our seaweed industry. Hopefully the amount will help existing seaweed growers and those who are interested to venture into seaweed farming,” said BFAR 7 Seaweed Action Officer Tiburcio Donaire.

Donaire said that the allocation is part of the total funding coming from the Department of Agriculture for 2010.

This is BFAR’s answer to the earlier pronouncement of seaweed industry players asking for government’s sincere support for the industry, otherwise, it will become an “ultimate” sunset industry if not given utmost attention.

Donaire said that the funding, which is meant to help augment the needs of seaweed farmers including seedlings and planting materials, will be disbursed through people’s organizations through a memorandum of agreement with the Bureau.

However, the amount dispersed to each applicant “will depend on the terms of input or costs of the needs of each farmer,” he added.

In order to avail of the loan, the people’s organization or cooperatives will have to send a letter of request through their respective local government units.

“In two years, the amount is expected to be rolled over and given by the organization or cooperative to another group of seaweed farmers,” Donaire said.

At present, Donaire said BFAR 7 has already received a number of requests coming from different organizations and cooperative but these will have to be further validated before the latter can avail of the loan.

SIAP President Benson Dakay lauded the assistance coming from the BFAR 7, as he acknowledged that getting access to financial institutions and government agencies have always been a constant challenge for industry players.

He stressed the strong competitive advantage of the Philippine seaweed industry over counterparts from Indonesia, Cambodia, and others given the technical expertise of the Filipinos.

“We could be the only industry left where the Philippines can be a lead. Our manufacturing business has lost to China and business process outsourcing is still dominated by India. But given more government support and interest from locals, we can become the world’s source of raw and processed seaweeds,” Dakay said.

Likewise, Dakay urged locals to engage into seaweed farming for a minimum capital investment of P10,000.

He noted that several teachers in barangays located near seashores have already ventured into this kind of business as alternative livelihood.