Seaweed farming needs tighter regulation to limit damage to the environment after booming into a US$6.4 billion business with uses in everything from sushi to toothpaste, a UN study said yesterday.
The report said seaweed can sometimes cause harm and spread diseases and pests.
One Asian seaweed brought to Hawaii has smothered some coral reefs by out-competing local plants, the study said.
Photo: Reuters
“There’s very little regulation” in many nations, said Elizabeth Cottier-Cook, lead author of the UN University study.
“You can take a plant from the Philippines and plant it in east Africa,” said Cottier-Cook, who also works at the Scottish Association for Marine Science.
A damaging bacterial disease known as ice-ice, for instance, has spread with a red seaweed from the Philippines and infected new farms in nations such as Mozambique and Tanzania.
Cuts in production caused by ice-ice caused losses estimated at US$310 million in the Philippines alone from 2011 to 2013, according to the report.
Globally, about 27.3 million tonnes of farmed seaweed were produced in 2014, worth US$6.4 billion and up from almost nothing in 1970, the UN University said.
Seaweed is used in foods such as soup, sushi wraps and spaghetti, as fertilizers and as animal feed.
UNCERTAINTY: Investors remain worried that trade negotiations with Washington could go poorly, given Trump’s inconsistency on tariffs in his second term, experts said The consumer confidence index this month fell for a ninth consecutive month to its lowest level in 13 months, as global trade uncertainties and tariff risks cloud Taiwan’s economic outlook, a survey released yesterday by National Central University found. The biggest decline came from the timing for stock investments, which plunged 11.82 points to 26.82, underscoring bleak investor confidence, it said. “Although the TAIEX reclaimed the 21,000-point mark after the US and China agreed to bury the hatchet for 90 days, investors remain worried that the situation would turn sour later,” said Dachrahn Wu (吳大任), director of the university’s Research Center for
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in artificial-intelligence (AI) chips, yesterday said that small-volume production of 3-nanometer (nm) chips for a key customer is on track to start by the end of this year, dismissing speculation about delays in producing advanced chips. As Alchip is transitioning from 7-nanometer and 5-nanometer process technology to 3 nanometers, investors and shareholders have been closely monitoring whether the company is navigating through such transition smoothly. “We are proceeding well in [building] this generation [of chips]. It appears to me that no revision will be required. We have achieved success in designing
PROJECTION: KGI Financial said that based on its foreign exchange exposure, a NT$0.1 increase in the New Taiwan dollar would negatively impact it by about NT$1.7 billion KGI Financial Holding Co (凱基金控) yesterday said its life insurance arm has increased hedging and adopted other moves to curb the impact of the local currency’s appreciation on its profitability. “It is difficult to accurately depict the hedging costs, which might vary from 7 percent to 40 percent in a single day,” KGI Life Insurance Co (凱基人壽) told an investors’ conference in Taipei. KGI Life, which underpinned 66 percent of the group’s total net income last year, has elevated hedging to 55 to 60 percent, while using a basket of currencies to manage currency volatility, the insurer said. As different
Taiwanese insurers are facing difficult questions about the damage of recent swings in the New Taiwan dollar. Regulators might have a partial solution: letting firms change how they calculate the value of foreign currency assets. The Financial Supervisory Commission (FSC) is considering allowing insurers to use six-month average exchange rates when they calculate risk-based capital in their semiannual reports, a shift from the current system where insurers use exchange rates on the final day of reporting. The change could ease pressure on the US$1.2 trillion insurance sector, whose huge exposure to foreign assets came into the spotlight earlier this month after a