By Dawn Tay

SINGAPORE fish farms have plenty to cheer about this Chinese New Year.

Some farmers are looking to increase their production rates because local demand for their fish is outstripping their supply. Of these, some are expanding the size of their farms to include more breeding ponds because they are reeling in big bucks, thanks to the humble milkfish.

The milkfish, which can grow up to 1m in length, is a staple in many South-east Asian diets.

Demand for it has leapt by up to 60 per cent since 2005, and its price has more than doubled, from $1 to $2.50 a kilogram, over the last two years. In 2007, close to $3 million worth of milkfish weighing 1,300 tonnes were produced by Singapore fish farms, and the figure is growing.

Fish farms told my paper that the export market is where the money is. About 80 per cent of their produce are exported to South-east Asia and as far as the United States and the Middle East.

Reasons for the boom?

More are looking for cheaper fish, and the increasing Asian population around the world is fuelling demand.

At about $2.50 per kilogram, milkfish is cheaper than, say, fresh snappers, which can go for $7 per kilogram.

Mr Malcolm Ong, 45, director of a fish farm in Lim Chu Kang, said: 'We don't have to chase the market - the market will chase us.

'In the US, it's also becoming popular to buy farm-reared fish, rather than wild-caught ones, as it's thought to be more environmentally-friendly.' Singaporeans were initially slow to develop an appetite for milkfish, but demand and awareness are growing here.

Fish farmer Toh Kai Teck, 72, said: 'Milkfish used to be less popular with Singaporeans as they're rather bony. But now, more people are looking for cheaper fish.

'The increasing numbers of foreign workers from the Philippines, Vietnam and Thailand are also driving demand.'

Civil servant Chia Jing En, 25, said the fish was a delicacy in the Philippines. 'It's fantastic - the way it's fried and stuffed with pork and fish,' she added.

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