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It is no surprise that Sri Lanka being an Island Nation relies on its fisheries industry. It is one of the top fishing countries in the world, according to the UN Food and Agriculture Organisation (FAO), with a yearly fish output of roughly 700,000 metric tons. However, due to overfishing and illicit fishing practices, this output has been decreasing in recent years.
Sri Lanka’s Department of Fisheries assessed in 2022 that the country’s marine seafood stocks had decreased by 70% in the previous decade. This decline is concerning, and immediate action is required to avoid the industry being washed away.
Fishing serves both local usage and international trade in Sri Lanka. It is noteworthy that the shellfish industry in Sri Lanka contributes significantly to the country’s GDP. The COVID-19 pandemic had a significant impact on Sri Lanka’s maritime fisheries industry, with seafood catches dropping by up to 20% and shipments falling by 26% in 2020. Despite the decrease in exports, Sri Lanka purchased 218 million dollars-worth of seafood in 2020. Furthermore, fish accounts for roughly half of Sri Lankans’ animal protein intake, which is three times greater than the world norm.
Sri Lankan fisher folk have 1,620 kilometres of shoreline and exclusive rights to fish, drill, and perform other economic operations in an Indian Ocean exclusive economic zone of 517,000 square kilometres. This does not, however, imply that there are an infinite number of fish materials ready to be gathered. A significant percentage of the fishery is harvested by over 50,000 Sri Lankan fishing boats that have already been depleted and must be rebuilt. Because catches are decreasing, expanding the boat and gear capacity only exacerbates the problem.
The implementation of sustainable fishing practices is one new development that could benefit the business. Sustainable fishing methods seek to preserve fish stocks while keeping the fishing business sustainable. The government of Sri Lanka has implemented rules that limit the use of certain fishing gear and ban fishing in certain regions during breeding seasons. These steps are critical for preventing overfishing and promoting fish population revival.
Sustainable fisheries management may necessitate a reduction in overall yield, impacting the incomes of fishermen and processors. To mitigate such effects, a complete and multifaceted set of remedies is required, including skills training for work in other sectors, job matching programs, and funding assistance for livelihood diversification within the fisheries value chain, particularly for younger generations. Pensions and other societal assistance for the disadvantaged should also be considered.
Another recent development that may benefit the business is the adoption of new technologies, such as satellite surveillance and tracking systems. These technologies enable officials to track fishing vessels and avoid illegal fishing. According to Pew Charitable Trusts research, installing satellite tracking devices in Sri Lanka could cut illegal fishing by up to 50%. This decrease would aid in the protection of fish populations and the sustainability of the fishing business.
The impact of climate change on the fishing business also cannot be ignored. Rising sea temperatures as a result of climate change can cause fish to move to cooler areas, disrupting the equilibrium of marine habitats. This disruption has the potential to deplete fish populations and decrease industry output. According to research, climate change could result in a 30% decrease in seafood catches in Sri Lanka’s coastal seas by 2050. This decrease could have a major effect on Sri Lankan fishermen’s livelihoods as well as on an affordable Sri Lankan diet.
Fish make up about 50% of Sri Lankans’ animal protein intake, a ratio three times higher than the global average. Therefore, the fisheries sector’s sustainable and resilient development is dependent on clear and consistent regulatory parameters, new information, and an ecosystem strategy that tackles the environmental and societal issues of the stakeholders involved. As the adage goes, give a man a fish and you feed him for a day; teach a man to fish ‘sustainably’ and you feed him for a lifetime.