Agriculture Secretary Arthur Yap launched here yesterday a five-year, P15-million program spearheaded by the Southeast Asian Fisheries Development Center (SEAFDEC) and DA-Bureau of Fisheries and Aquatic Resources (BFAR) to reinvigorate the fledgling abalone industry in the Philippines and capture the highly lucrative global market for this export product. 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. He said the DA-BFAR and SEAFDEC are looking at six possible sites for abalone hatcheries and grow-out sea cage farms—two each in Luzon, the Visayas and Mindanao.

Yap unveils abalone breeding program. (2007, July 22). The Philippine Star, p. B-4.