IT HAS been eight months since the Seaweed Industry Association of the Philippines (Siap) submitted a proposal to the government requesting a P1.5-billion stimulus fund to keep the industry going amid the global financial crisis.

Silence

But the group has not yet received any feedback from the government, according to the proponent of the proposal, who is Siap founding president Maximo Ricohermoso.

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“If we want to increase the seaweed production of farmers, they should have access to credit. If (people) say that credit is available, it is not to these small seaweed farmers,” said Ricohermoso.

According to the proposal, which he conceptualized with the approval of Siap members last March, half of the requested P1.5 billion stimulus fund will be used to finance the seaweed production of the farmers, and the other half for the processors and exporters of carrageenan (linear sulfated polysaccharide type obtained from red seaweeds) products.

Stimulus

The stimulus plan will also be implemented within a year to utilize seaweeds, increase production, create more jobs, and grow the seaweed industry.

“There are many other products we can derive from seaweeds that need to be developed,” Ricohermoso pointed out.

Contribution

The seaweed industry supports some 300,000 families nationwide and contributes about $200 million to the Philippine economy.

While waiting for the government’s response on its stimulus request, the seaweed sector is looking for more opportunities in the market, including increasing production to stabilize prices, investments, export markets, and product diversification.

“India, with its huge population, and South American countries (are) potential markets for food and pharmaceutical products made of carrageenan,” said Ricohermoso.

He added that other potential markets are Asian countries, including the Philippines, which demand organic seaweed products like the seaweed salad (guso).

Salad

Ricohermoso said his carrageenan manufacturing company, MCPI Corp., where he sit as chairman and president, started producing seaweed salad in bottles and selling it directly to the public across the country at P85 per bottle since last month.