The additional income can be earned from breeding milkfish and other high-value species, such as lapu-lapu, pampano, abalone, sea cucumber and seaweeds in sea cages, Agriculture Undersecretary Jesus Emmanuel Paras said.
“Sea cages in the park, which is located in Misamis Oriental, can yield a return on investment of up to 38 percent,” Paras said.
The Bureau of Fisheries and Aquatic Resources (BFAR) and the Misamis Oriental provincial government have established the mooring system that can accommodate around 20 to 24 fish cages.
The Balingasag mariculture park started operating early this year.
“On top of creating more jobs and raising incomes for farmers and fisherfolk, the mariculture park will also ensure the continuous supply of fish for the province,” Paras said.
Sarmiento said the mariculture park concept was similar to an industrial estate, in that the park is sectioned off into zones.
In the mariculture park, there are sections for seaweed farming and farming of fish and other aquatic animals.
Investments in sea cages paying off in Mindanao
MANILA - Small farmers and fishermen in Northern Mindanao can potentially earn an additional P100,000 from breeding fish in the regions first 195-hectare mariculture park, an official said.