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Seaweed prices in the Philippines hike on high demand

The country's other fishery products also largely saw gains.

The average farm gate price of seaweed in the Philippines rose this year to its highest level since 2015, fueled by traders’ higher buying price, reports Interaksyon.

The price per kilogram of seaweed from July-September reached PHP 5.83 (€0.10/$0.12) in 2017, surpassing last year’s PHP4.32 and 2015’s PHP 5.07 (€0.09/$0.10), the latest data from Philippine Statistics Authority (PSA) showed.

“Higher buying prices of traders contributed to the gain in price of seaweed by 35.06 percent,” noted PSA.

The data showed the 2017 price gain was lower for milkfish (4.21 percent), tilapia (10.47 percent), tiger shrimp (3.97 percent), roundscad (7.41 percent), skipjack tuna (-2.00 percent), yellowfin tuna (0.06 percent) and other fishery species (11.02 percent).

The PSA said the country’s July-September 2017 seaweed production hit around 278,000 metric tons, exceeding the 277,000 metric tons produced last year.

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