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Philippines: A Big Fish in a Global Catfish Pond?

Economics +1 more

PHILIPPINES - The Philippines is set to grab a big share of the global export market for "Pangasius" catfish dominated currently by Vietnam, China, Taiwan and the United States.

According to Balita, Eduardo Lazo, business development manager of Vitarich Corporation, said huge opportunities await hundreds of Filipino fishpond owners, new investors and fishing firms all over the country who are planning to go into full-scale commercial production of "Pangasius" catfish now in big demand in Europe, US and Russia.

"Pangasius" catfish is a fresh water fish originating from Vietnam, the world's biggest producer and exporter, which cultivates and grows the fish in large commercial fishponds and distributes them to both domestic and export markets, reports Balita.

Vitarich, one of the Philippines' biggest feed millers, pioneered the commercial growing of this fresh water fish specie in the country and set up an integrated system from breeding all the way to marketing together with its business partners.

"We're opening up this big opportunity for the contract growing of Pangasius catfish all over the country. We'll supply you the fingerlings, the feeds, technical support and even the regular buyers," Lazo told hundreds of potential investors during the recent Mindanao Investment Conference in the southern city of Davao.