September 26, 2024

Oman seeks market study on shrimp and tilapia aquaculture as part of economic diversification

Fisheries Development Oman (FDO), a state-owned entity under the Oman Investment Authority, has issued a tender inviting qualified companies to conduct a market study on shrimp and tilapia aquaculture in the country, Zawya reported.

The study is part of FDO's ongoing mission to support sustainable economic diversification in Oman's commercial fishing and aquaculture sectors. In its statement, FDO highlighted its role as the government's investment arm and a key player in achieving the objectives of Oman Vision 2040. The company aims to strengthen the national economy by improving the business environment and encouraging greater private sector involvement in these industries.

Qualified companies have been invited to submit bids by October 2, 2024.

According to the Ministry of Agriculture, Fisheries and Water Resources, farmed fish production in Oman reached 5,117 tonnes by August this year, with a value of OMR 15.1 million (US$39.2 million). This represents a 7% increase in volume and a significant 50% rise in financial value compared to 2023, when production stood at 4,767 tonnes, valued at OMR 10.99 million (US$28.5 million).

Oman's aquaculture sector has shown consistent growth since 2018, when production was recorded at 350 tonnes, valued at OMR 700,000 (US$1.8 million). By 2022, this had risen to 3,179 tonnes, worth OMR 6.9 million (US$17.9 million). The country's range of farmed species has also diversified, with 33 varieties now in production, including white shrimp, Omani abalone, and a variety of finfish.

-      Zawya