STORM SWEEPS AWAY $100M IN AQUACULTURE
Storm sweeps away $100m in aquaculture in Vietnam, farmers urged to shift to seaweed. After Typhoon Yagi caused over 2,500 billion VND ($100 million) in losses for aquaculture farmers, experts are recommending a shift to seaweed farming, a cost-effective alternative that requires minimal input according to a news article in Vietnam Net.
At a conference held on September 21 to address post-storm recovery efforts, Deputy Minister of Agriculture and Rural Development, Phung Duc Tien emphasised the severe impact the storm had on aquaculture and livestock farming, two of the fastest-growing sectors in Vietnam’s agriculture industry.
Initial assessments show that the storm and subsequent flooding caused the deaths of 22,808 livestock animals and over 3 million poultry across five heavily affected provinces: Hai Phong, Quang Ninh, Yen Bai, Hanoi, and Thai Nguyen.
Additionally, aquaculture farmers in the northern provinces from Quang Ninh to Nghe An reported damage to over 23,500 hectares of fish farms, with 4,592 fish cages and nets destroyed. The estimated total financial loss to the aquaculture sector alone exceeds 2,500 billion VND.
In response to the significant losses, leaders from the Livestock Production and Fisheries Departments proposed measures to help farmers recover, including postponing debt payments and providing support to rebuild production. One of the most promising suggestions came from Do Linh Phuong, CEO of DBLP, who recommended that affected farmers pivot to seaweed farming.
Phuong explained that many farmers have lost nearly everything and lack the capital to resume aquaculture. Seaweed farming, however, requires minimal upfront costs and doesn’t involve feeding the seaweed, making it a practical alternative.
The DBLP company has pledged to provide 1 million seaweed seedlings to help farmers in affected areas start seaweed cultivation quickly. Seaweed is considered a superfood and has applications in industries such as pharmaceuticals, cosmetics, and even biodegradable plastic production.
Scientists have demonstrated that seaweed can absorb CO2 at a rate up to five times greater than forests over the same area. Certain species, like kelp, can even absorb CO2 at a rate 20 times higher. Cultivating seaweed on 1 square kilometre can capture up to 1,500 tons of CO2, making seaweed farms a vital tool in carbon sequestration and climate change mitigation.
To help farmers rebuild, the Ministry of Agriculture and Rural Development has mobilised nearly 85 billion VND for the fisheries sector, 79 billion VND for livestock, and 2.4 billion VND for veterinary services from various businesses and organisations.
Deputy Minister Phung Duc Tien assured that these resources would be distributed transparently and effectively to ensure that those in need receive the necessary support. He stressed that with the collective efforts of government agencies, businesses, and farmers, the agriculture sector, particularly aquaculture and livestock, will recover swiftly.
Image; Aquaculture facilities devastated by the storm. Photo credit: Pham Cong for Vietnam Net.