“Around 4 million in agriculture and aquaculture loan is still available”
Sep 5, 2017 Counselor Peter Hsieh of Taiwan Embassy, together with two aquaculture experts, Mr. Dino Hsieh and Mr. Bing-je Wu, delivered 2,000 rabbitfish fries to the Ngermechau Klobak Association with the witness of Mr. Recheluul Percy of the Bureau of Marine Resources, and Ngirngesechei Leo Ruluked of the Ngermechau Kloback Association.
Using floating cage is a new method for fish farming. At the moment, there’s only one floating cage ready for farming in this Bureau of Marine Resources and Ngermechau Klobak Association Aquaculture Project and the second floating cage will be built later this year.
Each floating cage can contain up to 2,000 rabbitfish fries. Mr. Dino Hsieh anticipated that around 1,600 rabbitfish could be harvested 6 to 8 months later. It is estimated that about 800lbs of rabbitfish in total can be provided to the market. With the current price of $3 per pound, each floating cage can generate $2,400 revenue per harvest. The average cost of fish feed used in one harvest is around $640, therefore, the net profit of each harvest is around $1,760.
Aquaculture Project (AP) is one of the Taiwan-Palau bilateral cooperation projects to help improve Palau’s food security and self-sustainability. Taiwan Embassy kindly reminds all friends in Palau that around US $4 million loan for agriculture and aquaculture businesses provided by Taiwan government is still available at the National Development Bank of Palau (NDBP). Interested farmers are encourage to apply and take advantage of its preferred interest rate. [/restrict]