FisherFarm targets local sales to offset strong peso

By Riza Recio

05/09/2008

Leading frozen fish exporter FisherFarm Inc. (FisherFarm) expects to hike its 30-percent share of the total Philippine exports of milkfish and tilapia or St. Peter’s fish with projections of a 20-percent growth this year.

The country’s export of the fish varities total an average of 200 40-foot container vans each year, with 60 containers taken up by produce of FisherFarm.

FisherFarm’s marinated and smoked milkfish are primarily exported to the United States, Asia and the Middle East.

In a media tour at the Fisherfarm plant in Pulilan, Bulacan, the company said it plans to expand into local distribution of processed cold-cuts with raw materials purely in milkfish and tilapia.

FisherFarm said the move is seen to make sustainable the exportation, as well as distribution of the fish varieties which according to Fisherfarm general manager Jaime To has been experiencing a slowdown due to the strong peso.

The rising value of the local currency against the dollar makes it less profitable for exporters to sell their products.

Initially, the processed cold-cuts are in bangus and tilapia meat with introductory product lines in sausages, hams, salamis and flavored bangus cuts. The main distribution targets is going to the major supermarkets nationwide.

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