Because of the struggling US aquaculture industry, the US Department of Agriculture (USDA) will give a US$50 million grant through state agriculture departments based on amounts of fish feed utilised in 2007.
Feed increased in cost by over 50 per cent last year, which made it more difficult for US aqua farms to compete in the global market. Supporters believe the stimulus package will be able to sustain fish farms and preserve jobs in the areas most affected by the economic recession and other factors, reports The Associated Press.
Mike Freeze, vice president of the Pine Bluff, Arkansas-based National Aquaculture Association said that a considerable amount of fish farmers are located in poor regions and have been hit with both higher feed prices and higher electricity costs in addition to foreign competition.
The fish feed purchased with the stimulus package could stretch from the South through the Pacific coast, feeding everything form shellfish to catfish, tilapia and trout.
Dossier AllAbout Aquafeed
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