Agriculture Secretary Arthur Yap on Friday launched here a five-year program spearheaded by the Southeast Asian Fisheries Development Center (SEAFDEC) and Bureau of Fisheries and Agriculture Research (BFAR) to address the shortage of abalone in the world market. At present, there is an estimated shortage of about 4,000-6,000 metric tons (MT) of abalone in the world market. Yap said the P15 million investment of DA-BFAR in the National Abalone Breeding and Culture Program, “is well worth it,” considering that in the first year alone, the six abalone hatcheries and six grow-out farms to be built under this initiative are projected to produce more than 100,000 kilos, which is worth P36 million in the local market and P56.5 million if exported.

Abalone breeding program to address market shortage. (2007, July 16). Panay News, pp. B1, B3.