Fishing industry poised for massive takeoff
The fishing industry is set for a massive take off in St Vincent and the Grenadines.
Right now, the fishing sector contributes about EC$8 million to the local economy, with a catch of about two million pounds of fish annually.{{more}}
However, Chief Fisheries Officer, Raymond Ryan, is convinced that governmentâs intensive fisheries development thrust could see those numbers sky rocket to 3.5 million pounds and $24 million annually in about a year and a half.
He swears that it is not a pie in the sky ambition, nor is it ramblings steeped in political gimmickry.
âThose numbers are accurate and can realistically be achieved…the numbers are actually conservative numbers,â Ryan told SEARCHLIGHT earlier this week.
On Friday, August 22, there was a workshop held at the Fisheries Division Conference room to launch the Yamaha four stroke engines here.
The engine is being promoted as a fuel efficient, environmentally friendly, replacement to the two-stroke engines that are commonly used by fishermen now.
So fishermen were brought together to see and hear about the new engine which is expected to use only 40 per cent of the fuel used by the two stroke engines on the market now.
When he addressed the opening ceremony of the workshop which featured presentations from Yahamaâs Japan based representatives and local agent, Keith Howard, Ryan said that the engineâs introduction is a welcomed part of the multi-faceted approach being taken to fisheries development in St Vincent and the Grenadines.
He boasted of the multi-million dollar infrastructural work that has been taking place, including the upgrading of the Kingstown Fishing Complex to the tune of $17 million, the Bequia facility at close to $2 million and the $33 Owia Fishing Complex, currently under construction.
He, however, noted that while efforts must be placed on the post-harvesting of fish and the marketing aspect, those things would be a waste of time if production doesnât increase.
Government has made EC$6 million available, to be used as a revolving fund to facilitate affordable access to financing for local fishermen, so that they could invest in larger (long line) vessels – which Ryan believes will be the key to the boom referred to earlier.
Loans of up to $400,000 and, in special cases, more, will be made available through three local banking institutions: namely, the National Commercial Bank, First St Vincent Bank and the National Development Foundation.
Ryan explained to SEARCHLIGHT that vessels have been sourced from Mexico at US$241,000 each and already, some 25 fishermen are being trained in the operation of these vessels.
He said that financing has already been approved for six fishermen and another six have applied, so that they could order one of the vessels.
Ryan explained that while he believes closer to 10 of the vessels will be commissioned in the local market by next year, even if only six are, the results will be eye-popping.
The vessels being bought are 43 feet in length, can carry up to 10,000 pounds of fish, a crew of six, and stay out to sea for up to seven days.
The enthusiastic Ryan told SEARCHLIGHT that if each of these six vessels adds 200,000 pounds of fish to the market, it will open up this country to the overseas, specifically, the United States market, which we have been unable to tap in the past.
With the United States market currently offering between US$4-7 per pound, the projected numbers are well within reach, Ryan stressed. He said that this will not just augur well for the fishermen and the economy on a whole, but will also help to stabilize the price of fish on the local market.
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