Shiyam: Processing capacity expansion will up fish export revenue to USD 190m

Maldives will be able to raise revenue from fish exports to USD 190 million once it increases its processing capacity, says Fisheries Minister Ahmed Shiyam.

Fisheries Ministry is currently working on increasing Maldives’ fish processing capacity, building factories in Lh. Felivaru, F. Nilandhoo and GDh. Fiyoaree.

In an appearance on SSTV’s ‘Baaru Hathareh’ show on Saturday night, Shiyam said the additional factories will boost the government’s fish processing capacity by an additional 300 metric tons.

The government’s current capacity is 40 metric tons.

With private companies such as Ensis and Horizon, Shiyam estimates the government’s efforts will increase the country’s overall fish processing capacity to 81,000 metric tons.

Shiyam said the government aims to stop the export of unprocessed fish and change all fish exports to canned fish.

Shiyam said that Maldivian fishermen catch 128,000-130,000 metric tons of fish. He said that processing and exporting approximately 82,000 metric tons will boost revenue.

He said that Maldives has been exporting frozen skipjack tuna for 40 years, but the country’s cold storage capacity is poor.

“The revenue from fish exports is at around USD 90 million. If we increase the processing capacity, we can increase this to USD 180 to 190 million,” he said.