The government of the Philippines has made the decision to allow an increased number of fish imports to address domestic supply issues and contain a hike in retail prices, The Philippine Star reported 25 May 2022.
Under recent guidelines released by the Department of Agriculture, “importers with good standing” will be permitted to import an additional 38,695 metric tons (MT) of frozen fish and aquatic products in the second quarter. This volume includes part of the 60,000 MT that had been approved by the department for imports.
The decision to allow more fish imports was based on an analysis from his agency showing the country is estimated to face a shortage of 90,000 MT of fish in 2022 that can't be met domestically, Philippines Agriculture Secretary William Dar said.
The additional imports will help stabilize the domestic market during the annual fishing ban in the Davao region, which lasts from June to August.
“We continue to monitor fish prices, which are now slightly increasing, and the decision to extend the CNI [certificates of necessity to import] is part of the price stabilization efforts of the government,” Dar said.
The Philippines is forecasted to import seafood worth USD 1.1 billion (EUR 1.03 billion) this year, up 13.4 percent from 2021, The Philippine Star reported earlier this month, citing a report from the Foreign Agricultural Service under the United States Department of Agriculture.
The Southeast Asian nation imported seafood, mainly fish, crustaceans, mollusks, and other aquatic species, worth USD 970 million (EUR 909.5 million) last year, a growth of 40 percent year-on-year.
“Import demand remains supported by declining local fish stocks and a general lack of affordable animal protein alternatives,” the U.S. agency said.
However, the U.S. seafood exports to the Philippines remained modest, with value totaling only USD 10 million (EUR 9.4 million) in recent years.
China was the largest supplier of fish to the Philippines, accounting for 78 percent of market share, followed by Vietnam with six percent. Taiwan, South Korea, and Japan held two percent of market share each.
The U.S. agency noted that the Philippines’ total fisheries production dropped 3.4 percent year-on-year to 4.2 million MT in 2021, which is expected to fall further this year. Their decline in supply “in turn has increased the importance of and opportunities for trade.”
Photo courtesy of the Philippines Department of Agriculture
