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Fisheries and aquaculture sector gets $1.2B in Budget 2024
Kaieteur News – The Government of Guyana has budgeted $1.2 billion for the fisheries and aquaculture sector in 2024, Senior Minister with responsibility for Finance in the Office of the President Dr. Ashni Singh disclosed on Friday during the reading of this year’s budget themed ‘Staying the Course: Building Prosperity for All’.
Tiger prawn shrimp being reared at one of the farms in Berbice (Ministry of Agriculture photo)
Noting that the fisheries and aquaculture sector continues to play a major role in the country’s economy, Dr. Singh said this year, “Government 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.”
“Further, a fish feed mill will be established at Mon Repos. This facility will support the production of both floating and sinking feed for fish and shrimp. The projected production capacity of the feed mill is currently 2 tons per hour to meet both current demand and future needs,” the Minister announced.
Dr. Singh emphasised that the sector is a significant contributor to Guyana’s food security objectives and plays a vital role in the country’s culture.
“Government will continue to offer its unwavering support to our fisherfolk through a multi-faceted approach to expand growth and productivity within the sector,” he said noting that in 2023, the Government advanced works on a shrimp hatchery, fresh-water prawn ponds at Onverwagt, and brackish-water shrimp ponds in Region 6.”
Some $651million was expended to support fisheries and aquaculture initiatives last year.
The Senior Minister with Responsibility for Finance in the Office of the President said that based on the latest estimates, the fishing industry reversed its 2022 contraction to record growth of 37.8 percent.
“This is attributed to better-than-expected marine production, with shrimp and fish production expanding by 61.1 percent and 24.4 percent, respectively.”
Dr. Singh said too that notable improvements were observed in the production of artisanal finfish, red snapper, industrial and artisanal sea bob shrimp, and white belly shrimp.
“At the same time, we continue to see the fruitful results of Government’s interventions to transform the aquaculture industry. It is estimated that aquaculture production expanded by 75 percent in 2023, with brackish water shrimp production growing by 58.6 percent,” he told the National Assembly.
- aquaculture, Dr. Ashni Singh, Fisheries, Government, Senior Minister with responsibility for Finance in the Office of the President
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