PHL earns P10.54B in seafood trade in Dubai – DA

The Philippines has generated about P10.54 billion from a seafood sourcing event in Dubai, United Arab Emirates, according to the Department of Agriculture (DA).

In a statement on Wednesday, the DA noted that its attached agency the Bureau of Fisheries and Aquatic Resources (BFAR) facilitated the participation of eight Philippine seafood companies during SEAFEX 2016, which was held earlier this year at the Dubai World Trade Center.

SEAFEX is the largest gathering of seafood buyers from companies in the Middle East, Africa, and South Asia (MEASA) region.

The participating exhibitors from the Philippines were Fisherfarms Inc., RGE Agridev Corp., Seaworld Commercial Trading Corp., Mega Fishing Corp., Philfresh Corp., Phil-Union Frozen Foods, Inc., Nuevo Fresco Marine Trading Corp., and Jam Seafoods, Inc.

"Except for RGE Agridev Corp. which only entertained inquiries for its canned crab meat, the seafood companies recorded an aggregate of P10,496,019,212 or $210.5 million sales under negotiation," the DA noted.

Nuevo Fresco also closed a total of P41.7 million ($835,200) booked sales for its fresh tuna products, it added.

The Agriculture department said that shrimp, milkfish, canned tuna, canned sardines, varieties of fresh frozen tuna, value added seafood products, and live species such as lobsters and groupers won big in the said expo.

“We are glad that seafood commodities from the Philippines are attracting greater international attention. The success of our exhibit in Dubai proves that strong collaborations between the government and private companies can help us catch the big fish,” DA Secretary Emmanuel Piñol said.

Piñol also noted the importance of the Gulf Cooperation Council (GCC) market to the Philippines.

The UAE alone consumes up to 100 tons of seafood annually at a rate of 33 kilograms per capita, the highest among GCC countries.

"This entails huge trade opportunities for the Philippines," the Agriculture chief added. — John Ted Cordero/BM, GMA News