The development of abalone hatchery facility in Bali to respond to slowing down of supply

The government of Indonesia through its Ministry of Fisheries and Maritime Affairs is currently working together with seafood business owners in Bali to build a hatchery facility to be used in the production of abalone. This hatchery is currently under the development in the western part of Bali, close to the fishing port in the area, and is expected to finish by the second quarter of 2021. This initiative was taken considering the fact that the abalone industry that has gone through quite a slowdown in recent years where the production output showed a downward curve since 2018 where the supply was down by as much as 20% every year. The market for abalone itself still holds a prospective business opportunity as demand still comes from East Asian countries such as China and Hong Kong with demand at around 40 MT/year.