Fisheries college clarifies purpose of fishing cooperatives

Business

SOME locals have the misconception that fishing cooperatives are companies in which shares are bought, an official says.
National Fisheries College fisheries business programme leader Maria Huanianngre said this in regards to the training conducted nationwide mostly in rural communities which engage in the fisheries business.
“I approach small communities and individuals, fishing cooperatives and those that have established fisheries businesses in the communities,” Huanianngre said.
“We do have a lot of fisheries cooperatives. And the National Fisheries Authority gives a lot of funds to cooperatives. But the mindset of the people when they see cooperatives are different.
“They think that cooperatives are where you simply register, sit there and the cooperatives makes business. Fisheries cooperatives are a money-making vehicle for people within that group. It is a group of like-minded people that do the fishing business. Individuals and families catch fish and sell it to the cooperatives.
“They buy it for a certain price and then resell it to make money and give it back to the people. So the money stays in the community.”

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