SL told to have scientific approach to realise full potential of fisheries sector

• WB Country Manager stresses importance of having in place scientific, evidence-based stock mgt. to avoid  overfishing 
• Points out country not well-equipped to prevent postharvest quality deterioration during long trips at sea
• WB and govt. embarked on a project to carry out in-depth analysis of country’s marine fisheries, coastal aquaculture and ecosystems in 2020
• Sri Lanka’s export revenue from fish and fisheries products expanded by 47% in 2021

Sri Lanka has an immense potential to fetch higher export revenue from its fisheries sector, however, holding it back from reaping full benefits is the lack of scientific management, the World Bank (WB) said.
Coastal species such as lobster, cuttlefish, wild-caught shrimp, mud crab, and sea cucumber hold promise for higher export revenues and more secure jobs by tapping into higher-value market segments.
In an effort to continue to gain, and improve gains from the fisheries sector, WB Country Manager for Sri Lanka and the Maldives Chiyo Kanda stressed it is imperative for Sri Lanka to have in place scientific, evidence-based stock management to ensure overfishing does not take place.
One of the key challenges of offshore fisheries sector is identified as the high rate of post-harvest quality loss. 
“The Sri Lankan fleet is not well-equipped to prevent postharvest quality deterioration during long trips at sea. This reduces the amount of exportable fish catch,” said Kanda, addressing the Knock Knock Conference 2022 hosted by the Daily FT and MBA Alumni of the University of Colombo yesterday.
Kanda added that the growing global and domestic demand for seafood offers an important opportunity for Sri Lanka to sustainably expand aquaculture production, employment, and business opportunities for the private sector.
In a bid to capture the potential in the fisheries sector, the government has embarked on an ambitious programme to broaden coastal aquaculture into sea bass, seaweed, sea cucumber, mud crab, marine ornamental fish, and baitfish​​.

 Moreover, the WB and the government undertook in 2020 a project to carry out an in-depth analysis of Sri Lanka’s marine fisheries, coastal aquaculture, and ecosystems that support them, focusing on coastal fishery, offshore fishery, and coastal aquaculture sub-sectors.
The analytical work aimed at extending support to the government in prioritising investment and policy actions to enhance the welfare and resilience of marine fishing communities and fisheries contribution to the economy considering the COVID-19 pandemic and climate risks. 
The final report of the in-depth analysis will be released by early March.
Sri Lanka’s export revenue from fish and fisheries products expanded by 47.9 percent in 2021 when compared with 2020.
The economy earned a total of US$ 318 million from fisheries in 2021, while in 2020 the sector fetched US$ 215 million.
According to the State Ministry of Ornamental Fish, Freshwater Fish, and Shrimp Farming, the country’s production of farmed shrimp nearly doubled in 2021 with exports increasing by 162 percent.