Sri Lanka’s prawn exports break records and show impressive growth in first six months of 2021
Sri Lanka’s prawn exports have reported a record-breaking increase during the first six-month period of the year, according to The Sunday Morning Business.
Sri Lanka’s State Ministry of Ornamental Fish, Freshwater Fish and Shrimp Farming Development, Multi-day Fishing, and Fish Export Secretary Jayantha Chandrasoma has said that so far, the value of prawn exports for 2021 has exceeded its 2019 value.
Statistics of the country’s Ministry of Fisheries have indicated that the value of prawn exports of the said period this year is Rs. 2,299.2 million, and 1,403.7 MT were exported for the period. Exports for the same period in 2019 had recorded at Rs. 1,915.1 million, and 1,170.6 MT were exported. In comparison to 2020, prawn exports have increased by 117.8% in terms of quantity.
According to Chandrasoma, fisheries exports, especially prawn exports, are significantly high in 2021, despite the effects of the pandemic.
He has further said that the value of the total fish and fishery products exported during the aforementioned period saw an increase of around 17% in comparison to the corresponding period of 2020.
According to data provided by the Statistics Unit of the Ministry of Fisheries, Sri Lanka has recorded a value of Rs. 24,313.7 million for fish exports this year, while for the first six months of 2020, the amount recorded was only Rs. 20,726.9 million.
The Secretary has further noted that food fish exports have made a major contribution in overall fish exports this year, at 7,303.4 MT.
Apart from that, Sri Lanka exports live fish, prawns, lobsters, crabs, beche-de-mer, other molluscs, shark fins, fish maws, chank and shells, and other fishery products.
Also, crab exports have increased in comparison to the first six months of the previous year – 893.6 MT of crab was exported during the first six months of 2021, while in 2019, 878.6 MT was exported.
The State Ministry Secretary has added that Sri Lanka is willing to expand its export market to non-European Union (EU) countries including China, the US, and Japan.
However, Sri Lanka’s targeted product to export is, in fact, a type of shrimp and the government of Sri Lanka is negotiating with China in promoting this fish product.
OSL take:
Sri Lanka’s exports sector has shown a growth momentum despite challenges posed by the global Covid 19 pandemic. The country’s economy has shown great resilience to external and internal challenges through the years and is currently on the path to recovery after facing the pandemic impact. Sri Lanka is committed to promoting and developing the fisheries industry and the many trade agreements as well as trade concessions enjoyed by the country have further boosted the country’s exports, especially fisheries exports. Foreign businesses/investors could explore opportunities in Sri Lanka’s fisheries sector and use the benefits of the trade concessions with other countries to expand the business.
| Article Code : | VBS/AT/05082021/Z_4 |