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< Back to news 15 January, 2015

Sri Lankan Fishing Ban to effect Tuna and Swordfish supply

The Sri Lankan Fisheries Minister said that the Fisheries Ministry has taken the necessary steps to protect their fishing industry. Therefore meaning that Sri Lanka will have no choice but to face the fishing ban by the European Union, which will take effect from January 15.

Guest Article: Direct Seafoods

The Sri Lankan Fisheries Minister said that the Fisheries Ministry has taken the necessary steps to protect their fishing industry. “We have a mechanism in place to protect the  industry and the fishermen. The ministry will buy all the fishery products and 12 Russian companies have agreed to buy those fishery products from us,” he assured.

He added that the country will not have to depend on the EU anymore and it has an alternative plan to uplift the industry. He also said that all the EU concerns have been addressed and the ministry expects the EU to lift the ban when they review the progress next time.

The European Commission issued a red card three months back, warning of a ban on imports of sherry products from Sri Lanka, claiming that the country was not complying with international rules on illegal sharing and had inadequate control systems. If Sri Lanka did not take necessary measures, the EU had proposed a ban on fishing products caught by Sri Lankan flag vessels.

The ban is likely to have a significant impact on both Tuna & Swordfish supply, two of the key volume species exported to the EU from Sri Lanka. Direct Seafood's would like to assure all their customers that we have robust supply lines in place with Maldivian Pole & Line fisheries. However, with the lack of supply from Sri Lanka, we would like to warn our clients that the pressure on this artisanal fishery is likely to force prices up.

Already a Beacon customer trading with Direct Seafoods? If so, please feel free to contact your Beacon Account Manager should you have any questions.