'A deep dive into collapse': Iloilo's fisheries sector faces unprecedented decline

Angelo, Francis Allan L.

Date

June 19, 2024

Author

Angelo, Francis Allan L.

Metadata

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Classification code

DY20240619_1

Excerpt

The once-thriving fisheries sector in Iloilo is now grappling with an alarming downturn, according to analysis provided by Iloilo-based think tank Institute of Contemporary Economics (ICE). Citing local data from the Philippine Statistics Authority (PSA) and other local economic reports, Iloilo fisheries is facing a historic decline in production and value. The fisheries volume of production in Iloilo has suffered its largest year-on-year decline since records began in 1980. From 2020 to 2023, the sector experienced a continuous drop, culminating in a staggering 42.1% decline in 2023. This period marks the first-ever instance of three consecutive years of volume decreases, with production plummeting from 80,000 metric tons in 2020 to a mere 36,000 metric tons in 2023. The economic ramifications of this decline are severe, according to ICE Executive Director Joseph Ladrido. The value of fisheries output in Iloilo dropped to PHP 5.417 billion in 2023, the lowest since 1999. This sharp decrease follows a peak in 2021 when the value reached nearly PHP 10 billion.

Citation

Angelo, F. A. L. (2024, June 19). 'A deep dive into collapse': Iloilo's fisheries sector faces unprecedented decline. Daily Guardian, pp. 1, 11.