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The drop was witnessed across all fish and fishery products apart from chank and shells. Live fish export revenue during this period was recorded at Rs. 1.8 billion while prawns exports recorded Rs. 2.1 billion; lobsters, Rs. 216 million; crabs, Rs. 2.24 billion; shark fins, Rs. 262 million; fish maws, Rs. 28.4 million; and food fish, Rs. 20.7 billion. The biggest drop was seen in lobsters exports with a year-over-year (YoY) decline of 68.4% while fish maws recorded a YoY drop of 50.6%.
Nevertheless, the import value of fish and fishery products remains unchanged in the first three quarters of this year, compared to the same period last year, at Rs. 28.84 billion.
Speaking on the drop in exports, State Minister of Ornamental Fish, Freshwater Fish and Shrimp Farming Development, Multiday Fishing and and Fish Export Kanchana Wijesekera told The Sunday Morning Business that in addition to the reduced demand from the European market, limited air cargo flights due to the pandemic has been the main reason for the drop.
“There was a drop in air cargo flights. However, our exports are unhindered even amidst the prevailing situation. Importers are already purchasing from us. We have been completing orders. The season has just begun,” Wijesekera added.
Wijesekera is optimistic of completing the export orders, despite uncertainty in the local fish sector following the detection of the Peliyagoda Fish Market Covid-19 cluster and phobia around contaminating the fish with the virus.
According to the Export Development Board (EDB), there are 34 European Union (EU)-certified fish processing plants in Sri Lanka. The main product categories are tuna, sword tail, marlin, prawns, crabs, lobsters, beech de mer, and other species. Sri Lanka’s main fish export markets are the US, France, Hong Kong, the UK, Germany, China, the United Arab Emirates (UAE), Indonesia, the Netherlands, and Israel.
According to reports, the global seafood market is expected to lose steam due to Covid before recovering to reach a projected global market size of $ 138.7 billion by 2027.