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Philippine Fish Sink Under Weight of Fuel Prices
PHILIPPINES - Growth in Philippine fisheries output this year is expected to slow down to seven percent, as against an earlier government estimate of 11 percent, because of high fuel prices, a senior official said.
According to Amy R. Remo of the Philippine Daily Inquirer, The government had projected the fisheries sector to post record production of 5.7 million metric tons this year, but given the current conditions the output might barely hit five million metric tonnes.
“We were hoping the captured fisheries sub-sector—including commercial and municipal fisheries—to post the biggest gains in the first half but it didn’t happen,” Bureau of Fisheries and Aquatic Resources Director Malcolm Sarmiento Jr. said said.
In the first half of the year, the growth in fish production slowed down to 2.74 percent from its year-ago level of 7.22 percent. Commercial and municipal fisheries posted minimal gains of 1.28 percent and 1.18 percent, respectively, while aquaculture grew by 4.11 percent.
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