Seaweed is big business in the Philippines and it’s about to get even bigger.
The Philippine Bureau of Fisheries and Aquatic Resources (BFAR) recently announced that it will commit nearly $18 million in funding to the Enhanced Philippine Seaweed Development Program for 2025.
Investing in Seaweed Cultivation
According to an official statement from the government organization, approximately half of the funding allocated for next year will directly be used to establish 109 new seaweed nurseries and maintain another 24 existing seaweed culture areas.
“We will also construct eight warehouses and procure 34 mechanical dryers and 80 seaweed food carts,” BFAR Officer in Charge and Director Isidro M. Velayo, Jr. told BusinessWorld.
A total of $170,000 would also be used to purchase two brand new and state of the art bioreactors to create more than 4,000 metric tons of seaweed planting material.
Planning for a Large Seaweed Crop
The projection from the Philippine Bureau of Fisheries and Aquatic Resources (BFAR) for 2025 is calling for production of 102,500 metric tons of seaweed from about 1,000 acres of crops.
At an estimated $2.20 per pound, the seaweed produced from the investment in the Philippine seaweed industry for 2025 is expected to be valued at more than $14.4 million.
Seaweed Industry Expansion Planned
Philippines Agriculture Secretary Francisco P. Tiu Laurel, Jr. feels this is just the start of the significant growth potential for seaweed farming in the Philippines.
His organization has identified an additional 158,000 acres available for the seaweed industry expansion in the country, which could add an additional 50 percent crop yield for the country.
Agriculture Secretary Laurel said the Tawi-Tawi province has the most potential for expansion, despite the fact it already has more than 153,000 acres already under cultivation.
Southwest Luzon and the Zamboanga Peninsula are also targeted as potential areas for the production of seaweed for export from the country. Together, those two new provinces would add an additional near 73,000 acres to the seaweed industry growing area in the Philippines.
“This represents the low-hanging fruit that could create thousands of jobs and substantially boost foreign exchange earnings,” Agriculture Secretary Laurel added.
The seaweed industry is one of the main agricultural export crops grown in the island nation. According to the Philippine Statistics Authority, 1.6 million metric tons of seaweed was cultivated in the country and exported to markets worldwide last year.