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Weekly Overview: Malawi gets Aquaculture Development Boost

26 March 2013

ANALYSIS - In this weeks news; a grant from the Scottish Government helps to develop aquaculture in Malawi, South Africa invests in the West Coast fishing industry and 2012 was reported as a positive year for Newfoundland and Labrador's fishing and aquaculture industries, writes Lucy Towers, TheFishSite Editor.

Thanks to a grant of £337,000 from the Scottish Government’s International Development Fund, small scale commercial aquaculture is being developed in Malawi.

This new project aims to create and foster a supportive business environment in which an optimally located network of 60 small-scale fish farmers can operate on a commercial basis.

The benefits deriving from the project will include employment opportunities throughout the production and supply chains and an increased supply of better value, high quality protein into Blantyre and its peri-urban markets, while directly and indirectly supporting the livelihoods of some of the poorer but entrepreneurial individuals in Malawi.

George Finlayson of the Scotland Malawi Business Group, a former British High Commissioner to Malawi, said: “This funding has the potential to make a significant contribution to improving nutrition and food security in periurban areas of Malawi."

"The demand for fish in both rural and urban areas is booming, but largely unmet. We look forward to bringing a business, microfinance and markets-based approach to producing more fish, whilst also developing the communication and networking skills of key entrepreneurial fish farmers,” Mr Finlayson concluded.

Australian aquaculture company, Clean Seas Tuna, is planning to drive profitability through increasing its kingfish production, whilst its Bluefin Tuna programme is put on hold.

In order to hopefully raise A$3,607,907, for developing the commercial grow out and sale of Yellowtail Kingfish, the company is offering existing shareholders of five shares or more the option to purchase more shares 1.2 cents per share.

The company has positioned its Kingfish at the high end of the sashimi market based on its quality and successful marketing strategies.

The West Coast fishing industry is getting a boost in South Africa, as the government sets aside R11 million for the economic revitalisation of fishing in the region.

The support will be delivered through the Fishing Cluster Project which aims to create a viable and sustainable fisheries industry, create jobs and generate income opportunities.

The fishing industry is also growing in the Philippines, generating a need for more canneries. More sardines, mackerel and herring are expected to be fished in the Western Visayas region following the ending of a fishing ban, meaning there is now a need for more canneries in the area.

Statistics from the Newfoundland and Labrador Government, Canada, showed that 2012 was a positive year for the province's fishing industry.

Despite production declining slightly from 2011 to 137,000 tonnes, the total value of seafood production remained steady at C$1 billion. The United States, China, the United Kingdom, Russia, and Denmark remained the provinces top five export markets, representing C$740 million in sales.

In terms of aquaculture, production volume grew overall, although there was a decrease of six per cent in market value.

Lucy Towers, Editor

Lucy Towers, Editor

Top image via Shutterstock



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