Sri Lanka sends first-ever canned fish exports
Daily FT: Marking a significant milestone for Sri Lanka’s fisheries sector, the country officially began exporting locally produced canned jack mackerel from the Madurankuliya Ocean Food Factory.
The inaugural consignment destined for the United Arab Emirates (UAE) from the Madurankuliya factory was dispatched on 29 March, with Fisheries, Aquatic and Marine Resources Deputy Minister Rathna Gamage presiding over the event.
Gamage has highlighted Sri Lanka’s entry into the global canned fish market. Each export container holds 48,000 cans, generating $ 38,000-$ 40,000 per shipment. The government expects $ 8 million in foreign exchange revenue from exports in 2025.
Ocean Food Institute introduces a streamlined supply chain to ensure freshness and aims to expand the fisheries sector, reduce reliance on imports.
OSL take:
Sri Lanka’s ongoing economic activities are a clear indication of the resilience, strength and growth of the country’s economy, especially in relation to the private sector. Among the key economic sectors that have shown a steady growth are the manufacturing and export sectors. The many trade agreements and trade concessions enjoyed by Sri Lanka with many foreign countries have helped boost the manufacturing and export sectors. The growth and profits recorded by the local businesses engaged in these key sectors are indicative of the increasing business potential in the local manufacturing and export sectors. It is in such a backdrop that a Sri Lankan company has started to export canned fish to the export market. The fast-evolving needs of the global markets a d Sri Lanka’s access to many foreign markets due to the country’s strong trade ties, the promotional campaigns in overseas markets as well as the commitment to add value and diversify the existing local export product portfolio ensures a quick return on investments to foreign businesses/investors doing business in Sri Lanka. Foreign businesses/investors could therefore confidently explore the growing business/investment opportunities in Sri Lanka’s manufacturing and export sectors. Foreign businesses could also look at further expanding operations through partnerships or joint ventures with local businesses engaged in the manufacturing and export sectors.
| Article Code : | VBS/AT/20250402/Z_8 |