Aquaculture presents a radically different way of producing fish that aims to transcend the limitations of capture fisheries but that in turn creates new forms of agrarian and ecological transformations. Using the case of Laguna Lake, the paper probes how aquaculture production and corresponding agrarian transformations are inextricably tied to dynamics in capture fisheries in multiple ways. It emphasizes the fundamentally ecological nature of the relations between aquaculture and capture fisheries through a discussion of three interrelated features of agrarian change: commodity widening through the production of a commodity frontier, aquaculture producer strategies of working with materiality of biophysical nature, and the attendant consequences of these processes for agrarian configurations. By examining the appropriation of nature in commodity frontiers and situating relations between aquaculture and capture fisheries as historical‐geographical moments in commodity widening and deepening, the paper highlights the centrality of nature in agrarian change.