POLOMOLOK, South Cotabato -- Step aside tilapia or bangus, here comes Pangasius hypopthalmus, commonly named cream dory, a catfish variety originating from Vietnam.

President Gloria Macapagal-Arroyo arrived in Polomolok town Friday in what could signal the start of massive commercial growing in the country of pangasius.

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The President, whose arrival here was confirmed only late Wednesday night, witnessed the signing of memorandum of agreement for pangasius cultivation between a subsidiary of homegrown business empire RD Group of Companies, a feed supplier and fisherfolk from North Cotabato.

The agreement was inked by RDEX Food International Phils. Inc., Tateh Premium Feeds Corp., and the Midsayap Fisherfolks Producers' Cooperative.

Pangasius is native to the Mekong River and exported by Vietnam to the United States, Russia, and some parts of Asia, including the Philippines, which is importing an estimated 500 metric tons monthly for supermarkets and restaurants' use, said a briefer from the regional Department of Trade and Industry.

The regional trade department as well as the Bureau of Fisheries and Aquatic Resources in Central Mindanao were also signatories to the memorandum of agreement the President witnessed.

Roger E. Rivera, senior vice president and chief operating officer of RDEX Foods, said the company will buy the pangasius harvest from the Midsayap cooperative after seven months or the desired weight is reached, whichever comes first.

"The firm will buy the fish from P60 to P70 per kilo, as well as providing technical assistance to the growers," Rivera said.

Diomede C. Bucog, Jr., Tateh Premium area manager for Mindanao, said the firm will provide the farmers with the feeds through a credit scheme collectable after harvest.

"We will extend a charge to crop credit line to cooperative/farmer-grower for feeds to be used to grow pangasius at a maximum market size of one kilo per piece, or a maximum amount of P324,000, whichever comes first," Bucog said.

Based on the memorandum, if the fresh and brackish waters of Mindanao are fully utilized, the supply chain of pangasius developed and the capability of the industry to meet the standards of the international market strengthened, the "industry can contribute in increasing the export performance of the country."

The memorandum noted that the Philippines, particularly Mindanao, has the resources and capability to culture and process pangasius "in large volume and of good quality."

Dorecita T. Delima, DTI-Central Mindanao assistant regional director, said they started promoting pangasius catfish late last year through a demonstration farm in General Santos City.

She said the regional trade office has organized the pangasius industry cluster to popularize the new catfish variety. (BSS)