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Analysis of Risk and Risk Management Practices of Fishing Communities in the Philippines

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  • More than half a million small fishers in the Philippines have been availing of loans from Quedancor, the credit arm of the Department of Agriculture. The financing scheme has been quite successful with repayment rate at 95%. However, the occurrence of natural calamities such as typhoons; as well as pests and diseases has affected the productivity of fisheries, thus, hindering fishers from paying and renewing their loans. Failure to access credit could disable them to continue venturing on fishing activities and could eventually jeopardize the welfare of their entire household. The inability of creditors to pay their loans and meet their obligations also impair, to a large extent, the financial operation and viability of the lending institutions. This study analyzes the natural risks and risk management practices of these fishers. It recommends mitigation mechanisms to minimize the impact of natural calamities. Moreover, it suggests a bridge financing scheme that can be an effective and efficient instrument to enable fishers to carry on their livelihood activities and support their families' basic needs and slowly recover from their losses.
  • Keywords: Philippines, Risk and risk management practices, Fisheries Economics, Bridge financing scheme, Fishing communities, Natural calamities
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  • Campos, Maria Rebecca. 2008. Analysis of Risk and Risk Management Practices of Fishing Communities in the Philippines. In: Proceedings of the Fourteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 22-25, 2008, Nha Trang, Vietnam: Achieving a Sustainable Future: Managing Aquaculture, Fishing, Trade and Development. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2008.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, The Department of Fisheries and Oceans, Canada; Aquaculture CRSP and AquaFish CRSP; Minh Phu Seafood Corporation; Vietnam Datacommunication Company (VDC); Camau Frozen Seafood Processing Import Export Corporation (Camimex); Long Sinh Limited Company; Mai Linh Group and Nam Viet Corporation.
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