STATUS OF THE ORNAMENTAL FISH TRADE AND INDUSTRY IN SINGAPORE

Abstract

The ornamental fish industry is gaining greater attention with its potential. The excellent infrastructure of Singapore and the Government's active role in the promotion of this industry has contributed to the rapid growth of the industry. The current distribution system of the industry is complicated by the intermediary role that middlemen play. This has complicated the procurement process of the exporters and resulted in lower efficiency. The force that has the greatest influence on the industry is the increasing competitiveness in the international market. With the neighbouring countries also promoting their domestic ornamental fish industry ( notably Malaysia), Singapore exporters have to take an active approach to ensure that they retain the competitive advantage currently held. Another force that has great influence is the presence of entry barriers in the forms of regulations, capital outlay and the reliance on established relationships between exporters and importers for trade. The largest market in the world is the US. Singapore's exports to the US have stabilized in recent years. Other major markets of Singapore are the UK, Germany and France. Japan was identified as a fast growing market. Simple linear regression models were used to analyze the variables affecting demand. The most common variable was GNP. In general, price does not have a significant influence on demand of the countries analyzed except for the UK. With the integration of the European market, existing trade distortions will be abolished. Unified veterinary norms and lower trade costs have direct positive effects for trade in ornamental fish. However, the misconception that all ornamental fish come from the wild may lead environmental groups to pressure the European government against importing the fish. Meanwhile, declining natural habitat caused by deforestation, urbanization and industrialization has resulted in the rapid extinction of some fish species. To remain competitive, Singapore breeders must adopt more productive methods offish cultivation. Another possibility is to utilize the experience of local breeders to set up an "Ornamental Fish Genetic Centre" with the help of the relevant authorities. This centre will have the necessary facilities and will attract expertise from all over the world. The purpose of the centre is to help the breeders in the selective breeding of new, hardy and robust varieties with better colour and size and higher resistance to diseases and lower mortality rate during transportation. Local exporters can adopt new concepts for the marketing of ornamental fishes such as selling them as part of the interior decoration of the house. This can be carried out with the help of interior designing companies. Public aquaria can also be used as an advertising medium to expose the variety of fishes available to the public. The closer interaction and co-operation between breeders themselves and with exporters will ease the management of supply.