Академический Документы
Профессиональный Документы
Культура Документы
Historically an important industry for food security, fisheries are beset with challenges currently
Historically an important industry for food security, fisheries are beset with challenges currently
However, for several years now, the traditional fisheries sector of Oman has been
suffering from a decline of production
Overfishing: Tragedy of the commons, wherein improper governance over
common fishing areas lead to over-exploitation by artisanal as well as
commercial fisheries. The Gulf alone under-reported about 30,000 tonnes of
capture fishing using weirs between 2005 and 2010.
Increasing demand without an accompanying increase in production: Omans
per capita fish consumption is the highest in all of GCC. Meanwhile, an
increase in population, largely made up of protein preferring young population
and expats, further drives demand.
Poor advances in aquaculture: Aquaculture based production, formally
initiated in 2004, in Oman is in its infancy, producing no more than 500 tonnes
of a total of 206 k tonnes, approximately 0% of total produce.
Labour Availability: Incidence of migrant labour from Philippines, Bangladesh
and India in the fisheries sector is on the decline, while a number of native
artisanal fishermen and women have abandoned fishing for more lucrative
livelihoods when catch became sparser and sparser.
Why you should be investing: Recent initiatives, sure to get high returns make it a lucrative
investment sector, making it Omans next most important sector for the GDP
Large and Increasing Domestic Demand
Oman has highest per capita consumption of fish at 27 kg
Population increased by 41% between 2006 and 2014, to 3.63 mn
Government Investments
US$ 1.6 BN allocated by Omani Government for development of fisheries
infrastructure and domestic fish markets, ports, for expanding fleet and
subsidizing pisciculture and training, processing and development of overseas
export markets
This is in addition to US$ 259 MN pledged in the 8th Five Year Plan
Government to rally for private investments worth US$ 100 MN for Phase 1 of
Aquaculture Development Plan, launched in 2012
Government Support
Governments Fisheries Support
Program
Quick Facts
TRENDS
DOMESTIC
Increasing population
Increasing prices of fish
Preference for protein rich food
Preference for processed food, particularly protein rich
EXTERNAL
Increasing demand for caviar and prawns
OTHER
Head over to our report to find out how you can leverage
this opportunity.
We can help you plan for, and transition smoothly from planning to implementation
Reports prepared by GCC specialists will help you make sense of this vast business
opportunity. Head over to our report on Fisheries and Aquaculture in Oman.