Philippines ready for large opportunity with pagnasius

Europe is the biggest importer of Pangasius with Russia as the top importing country in 2006 that opens good opportunity for Philippines.

It is fact that Philippines is rich in pagnasius and there is huge market for the fish in Europe and Russia. Eduardo Lazo, business development manager of Vitarich Corporation who presented "Business Opportunity in growing Dory Fish" at the Mindanao Investment Conference at the Marco Polo Davao on Tuesday, November 25, 2008 said that Dory Farming is one of the fastest growing aquaculture sectors with strong and increasing market demand from current important countries.

According to him the production of pagnasius will open more potential countries’ market for export development as only few countries dominate production. It is also told that the prospects are bright as it has several value-added products and options although it still has under developed local market. Talking of current trends, he said local product can be potentially better than Vietnam products (where Dory originated).

Lazo informed that the nation has the advantage as other Asian suppliers have spotty track record and poor image in US. He added that some Chinese producers are indicted for false labeling, false weights, antibiotics while some Chinese suppliers are busted for using melamine and other chemicals. He exclaimed that the Philippine opportunity is great with Pangasius considering its good relationship with the US.

It is fact that tere is an increasing worldwide demand for the fish and the Philippines is suitable for Dory farming. The Pangasius or "Fish Love" (the market name of the fish coming from Mindanao) was formally launched Wednesday, November 26, 2008 at the Marco Polo Davao and graced by Bureau of Fisheries and Aquatic Resources (BFAR) Director Malcom Sarmiento.

Source: TheFishSite News Desk"

WorldFishingToday d. 27-11-2008