March 30, 2010

Sri Lanka eyes potential aqua opportunities in eastern province

Aquaculture, or fish farming, has the potential for significant growth in the eastern province of Sri Lanka, given the availability of suitable land and a strong export demand for fish and seafood, according to a study by US Agency for International Development (USAID).

Cage-raised sea bass, tilapia, and mud crabs which are selling profitably in Sri Lankan urban markets, also have the potential for overseas export. There is strong demand in Europe and Asia for sea bass while buyers from the Persian Gulf favour tilapia – a food that is popular with foreign construction workers.

However, succeeding in the export market will require that Sri Lankan entrepreneurs, fish farmers, transporters and exporters, work together to meet stringent requirements for proper cultivation, harvesting, processing, handling and transport. To sell in foreign markets, fish and fish products must meet exacting standards from harvest to the point of delivery to the consumer.

The study reveals that the eastern province offers investors a wide choice of suitable sites for aquaculture activities. There is an abundance of lagoons, marshes, mud flats and other saline areas relatively free of population and urban development. Aquaculture activities in these areas can be developed to create employment opportunities that complement existing agriculture or maritime fishing.

The aquaculture report is one of seven assessments funded by USAID through Connecting Regional Economies (CORE) project. It aims to expose producers in the eastern, north central, and Uva provinces to urban markets and export gateways in and around Colombo and the western coast.