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For Investors Guyana Aquaculture Investment Prospectus
The Global Fish Market - Aquaculture on the Rise Several market reports commissioned by the Government of Guyana, and NAAG show that aquaculture is a growing provider of the fish market. Fish consumption continues to rise while the fish capture industry production slows; this shows that further growth in fish consumption is supplied by aquaculture methods. More specifically tilapia is a growing market within the aquaculture sector that Guyana is poised to take advantage of.
Source: FAO - The State of World Fisheries and Aquaculture 2006
Figure 1 It can be seen from Table 1 that the total production of fish worldwide was at its greatest in 2005, approximately 141.6 million tons. In 2000, total production was approximately 131.1 million tons; of which farmed fish was only 26.6% (35.3 million tons). From 2000 to 2005 farmed fish grew by 34% to represent 34% of the total production (47.8 million tons), while wild caught fish declined 2% to represent just 66% of the total production, down from 73%. According to reports by the United Nations Food and Agriculture Organization (FAO) between 75-80% of the world’s oceanic fisheries are being fished at or beyond their maximum sustainable yield. The capture fish industry is becoming increasingly more adept at harvesting fish at sea through the use of larger trawlers, on-board processing facilities, and radar fishing techniques. Over-harvesting and habitat destruction can be seen in such cases as the Newfoundland cod fishery, which ended in closure of the fishing grounds in 1992 and has not since reopened. Global fish consumption rises, but the open ocean cannot fill the demand, so the market looks towards other sources - namely aquaculture - to fill its needs. Guyana Ripe for Aquaculture Guyana is uniquely positioned to develop a sustainable and profitable semi-intensive aquaculture industry. Guyana is ideally suited to the commercial practice of warm water aquaculture: vast amounts of unpolluted freshwater resources, relatively large acreages of flat land, year round warm water temperatures, presence of suitable species for farming, suitable agriculture by-products for feed production, drainage and irrigation infrastructure and availability of unskilled family labor. Guyana’s relatively pristine freshwater resources, extensive flat land, warm climate, availability of irrigation and water infrastructure, and availability of unskilled family labor provide an ideal natural setting for fish culture. In addition, its geographical proximity and air links to the United States positions Guyana strategically to take advantage of a rapidly growing U.S. import market for fresh fish, especially Tilapia, which is now the fourth most consumed seafood in that market. In addition it could be in the scope at a later date to position for the increasing U.S. demand for organic fresh fish which provides an exceptional opportunity as a niche segment for Guyana’s nascent aquaculture industry.
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