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Former Member
Guyana fishing industry creating positive economic impact

Monday, February 27, 2012
Source - Caribbean360

Fishing industry provides significant foreign exchange earnings,
with exports valued at GY$10 billion over the last three years.


GEORGETOWN, Guyana, Monday February 27, 2012 – Guyana’s fishing industry is paving the way for that country to achieve its Millennium Development Goals of feeding its people at international standards.

Agriculture minister, Dr. Leslie Ramsammy said the country’s fishing industry was growing at a rapid rate, and described it as an important component in the country’s development.

He noted that as it related to food security, the fishing industry provided a cheap source of animal protein in the Guyanese diet, and allowed for the creation of jobs in the local market, providing over 15,000 jobs.

Dr. Ramsammy said the fishing industry also provided significant foreign exchange earnings, representing just under three per cent of the gross domestic product, and exports valued at GY$10 billion over the last three years.

He further noted that the country was able to buffer against food shortages, with the food index increasing within normal rates.

The minister said the per capital fish supplied in Guyana exceeded 58 kilogrammes compared with the global average of 17 kilogrammes.

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While Guyana’s marine resources have been an important component of its economy for some time, commercial aquaculture, especially in regard to tilapia and shrimp farming, is an emerging industry receiving the attention of both the Government and private investors. Although the industry is in its fledgling stages, a number of factors are driving opportunities within the aquaculture sector:

Located on the West Bank of the Demerara, the New Line Aqua Farm is pioneering Guyana’s farming of Tilapia for export. The company has a state-of-the-art facility with 100 acres of fresh water ponds with advanced technology and is moving towards the completion of an integrated production system with a hatchery, feed mill, fish pond and processing plant for export to the U.S. and Caribbean. Once the processing plant is completed, the company expects to be able to fill five 20-foot freezer containers of frozen tilapia for export each week.
Higher prices – In general, the world’s fisheries are experiencing a decline in ocean catches (a result of over fishing). At the same time there is a growing demand for fish products, resulting in higher prices. Buyers are in constant search of new sources of quality fish that are available year round. Aquaculture can meet that demand.
Lucrative Markets – There is a growing demand for farmed fish, such as tilapia, not only in the U.S., where imports have grown dramatically in recent years, but also the E.U., which certified Guyana as an aquaculture supplier in 2004. Key markets include fresh filets going to the retail sector and frozen fillets going to the food service sector.
Easily adaptable agriculture infrastructure – The infrastructure (e.g. irrigation) developed for rice production can be easily adapted to serve commercial aquaculture, reducing the cost of the initial investment necessary to initiate operations.
Available inputs – As noted above, the marine fishery sector produces significant amounts of by-product that can be used as inexpensive fishmeal to fish farms.
High profitability – The experience of recent investors shows that income per acre of commercial aquaculture activities is considerably higher than other typical agricultural activities. For example, the estimated profit per acre is nearly 30 times greater than that of rice.

These factors provide a full range of opportunities for investors, from fish farming, to value-added downstream activities such as processing and freezing for export.

Source
FM
quote:
Originally posted by albert:
There is a growing demand for farmed fish, such as tilapia, not only in the U.S., where imports have grown dramatically in recent years, but also the E.U., which certified Guyana as an aquaculture supplier in 2004. Key markets include fresh filets going to the retail sector and frozen fillets going to the food service sector.


Albert:

Thanks for that information.

Looks like the aquaculture sector has huge potential for growth in Guyana.

You would never find Moses, Khemraj, Gerard and the other losers over at the AFC talking about these positive developments in Guyana.

GOOD NEWS FOR GUYANS = BAD NEWS FOR THE AFC.

Rev
FM
Well those Guys are convinced that the BEST strategy is to make Guyana into a Bankrupt, Filthy and broken Country so that they can say HA, I told you so. I am NOT surprise at these Shameless Political Prostitutes!!!
quote:
Originally posted by Rev Al:
quote:
Originally posted by albert:
There is a growing demand for farmed fish, such as tilapia, not only in the U.S., where imports have grown dramatically in recent years, but also the E.U., which certified Guyana as an aquaculture supplier in 2004. Key markets include fresh filets going to the retail sector and frozen fillets going to the food service sector.


Albert:

Thanks for that information.

Looks like the aquaculture sector has huge potential for growth in Guyana.

You would never find Moses, Khemraj, Gerard and the other losers over at the AFC talking about these positive developments in Guyana.

GOOD NEWS FOR GUYANS = BAD NEWS FOR THE AFC.

Rev
Nehru

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