The fisheries industry in southern Taiwan suffered unprecedented losses in floods triggered by Typhoon Morakot this month and its grouper culture ponds, which turned out nearly 60 percent of the world's production in terms of value, have almost been completely wiped out, an industry source said Saturday. A post-Morakot investigation conducted by the Council of Agriculture (COA) indicates that of the 1,500 hectares of grouper culture ponds in Taiwan, more than 90 percent have been damaged. The COA reported that as of 3 p.m. Friday, Morakot's damage to the fishery industry amounted to NT$4.14 billion. In Chiatung and Linbian alone, the losses to the fish culture industry might reach NT$3 billion, according to the county magistrate. Hsieh Chin-huei, president of the Aquaculture Development Association of the R.O.C., lamented that it might take the grouper culture industry more than a year to recover. Groupers were among the high value fish products which earned the nation handsome foreign exchange every year. In 2008, the NT$3.88 billion (US$120 million) in Taiwan's grouper production value represented 58 percent of the world's overall production value for the popular fish. As the coastal townships Chiatung and Linbian in Pingtung County are suffering the heaviest toll in terms of fishery losses, Pingtung County Magistrate Tsao Chi-Hung is looking into ways to help fish farmers there solve their financial difficulties. 'For those people affected by the typhoon who owe bank loans, we can adopt a special measure to cancel their debt,' Tsao told reporters. 