The plan which has secured the support of international donor agencies, technical groups, local financiers and farmers seeks to have earnings from aquaculture match the returns from sugar by 2015.
The plan, which outlines a phased development of the aquaculture sector, envisages the creation of at least three major local aquaculture operations involving a minimum of 100 acres of fish ponds and three major foreign investments in the sector over the first three years of implementation. By the end of 2009 the plan envisages the creation of more than 2000 acres of active fish ponds.
Under the phased strategic plan for the expansion of the aquaculture sector it is envisaged that by 2015 the industry will comprise 3,000 fish farmers and 45,000 acres of fish ponds which will match the sugar industry in terms of its contribution to the national economy.
The strategic plan outlines a range of research priorities that have been integrated into the initiative including the production of duckweed for fish food, the development of a reliable fish cage culture, financing models designed to mobilize equity for the industry in the banking sector and the development of a human resource capacity to service the industry.
Stabroek Business understands that an approach has been made to the National Agricultural Research Insti-tute (NARI) to evaluate duck weed as a feed source for the fish and that the National Oil Mill Ltd. is supporting the project through the establishment of a fingerling production operation.
Financing for the aquaculture expansion programme is expected to be secured through the commercial banking sector and local financiers and Stabroek Business understands that work has already begun on the creation of a model for attracting funds to the initiative.
Globally, aquaculture is the fastest growing sub-sector in agriculture. Tilapia which, along with pacoo, is cultivated in Guyana is the fifth most consumed fish in the United States. Tilapia consumption in the USA is reportedly growing at the rate of 30 per cent per annum.
