Oceanic fish farm in Trincomalee

by Sanjeevi Jayasuriya in Trincomalee

Sri Lanka needs to gear up its fisheries sector to increase harvest as the European Union ban on fish exports to Europe has been lifted.

"Fish exports are anticipated to be around US $ 2.5 billion by 2020 and the government will provide assistance to help the sector," Minister of Primary Industries, Daya Gamage told the guests at the launch of 'Round Island', the oceanic fish farm of Oceanpick (Pvt) Ltd in Trincomalee last week.

Oceanpick's oceanic fish farm in the seas off Trincomalee brings new hope for Sri Lanka's fisheries sector.

The first phase of the venture was completed with an investment of US $ 4.5 million and a production capacity of 400 MT with plans to increase up to 1,000 metric tons by 2018. The company's first choice of species is Barramundi or Asian Sea Bass locally referred to as Modha.

Oceanpick created history by setting cages in the ocean. The company is Sri Lanka's and South Asia's first ever commercial scale oceanic farm for finfish.

Founder Director, Oceanpick, Irfan Thassim said, "Our objective is not merely to make supreme quality seafood available to consumers, but also to raise Sri Lanka's fishery industry to new heights of sustainability by reducing reliance on dwindling natural marine resources."

"We focus on responsible farming which is sustainable, to produce quality seafood without compromising on taste," he said.

The key features of the venture are consistency in supply as there are no seasonal issues and no fluctuation in prices.

Our export markets are USA, Russia and Australia and will look at the possibility of backward integration soon, Thassim said.

Oceanpick was set up four years ago to produce sustainable, yet delicious marine fish. The company continues to set the benchmark for hygiene and freshness.

Minister Gamage said that the target for exports has been revised and the government is hopes to reach US $ 30 billion dollars within the next five years.

Animal husbandry is one of the areas that is under-utilised and measures will be taken at national level to ensure substantial contribution from the sector.

Minister of Public Enterprise Development, Kabir Hashim, the guest of honour said, "Sri Lanka is a middle income country and should raise the bar on technology and know-how to reach the next level.

We need to support pioneer business ventures to ensure export targets are met."