$1.2B allocated to advance fisheries, aquaculture industry

With increased focus on increasing production in the agriculture sector, a sum of $1.2 billion has been allocated to develop the fisheries and aquaculture sector in 2024.

The fisheries industry, inclusive of aquaculture, is a significant contributor to the country’s economic growth and food security objectives.

During his 2024 budget presentation at the National Assembly on Monday, the Senior Minister in the Office of the President with responsibility for Finance and Public Service, Dr Ashni Singh said fisherfolk will continue to receive support through a multi-faceted strategy that aims to increase the sector’s growth and productivity.

“We will continue to invest in the growth of brackish water and vannamei shrimp production as well as propel the development of cage culture for tambaqui,” the senior minister stated.

This year investments will be made in an additional 50 cages.

A fish feed mill will be established at Mon Repos, East Coast Demerara, to support the production of both floating and sinking feed for fish and shrimp.

The projected production capacity of the feed mill is currently two tonnes per hour to meet current demand and future needs.

In 2023, works were advanced on a shrimp hatchery and freshwater prawn ponds at Onverwagt and brackish water shrimp ponds in Region Six.

A total of $651 million was spent to advance fisheries and aquaculture initiatives.

Guyana earned close to $1.3 billion from the production of brackish water shrimp from January to November 2023.

The country also recorded 815,496 kilogrammes of shrimp being produced from January to November last year.

Six cages, which were stocked with tambaqui fingerlings are presently installed in communities such as Mashabo, Mainstay, and Capoey in Region Two.