Saudi Arabia hopes to increase fish production to 230,000 tons as seafood demand grows

Published 2024년 5월 9일

Tridge summary

Saudi Arabia is set to increase its fish production by 80% to 214,600 tons in 2023, despite facing a seafood deficit due to high consumption rates. To combat this, the Ministry of Environment, Water and Agriculture is enhancing 16 fishing ports and encouraging private investments in the fishery sector with incentives like 75% funding, direct financial support, and interest-free loans. Additionally, the country is focusing on fish farming and aquaculture projects, such as OXAGON in NEOM, which aims to produce over 50,000 tons of fish annually, as part of its strategy to achieve seafood self-sufficiency.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Hussein Nazari, head of Saudi Arabia's fisheries agency, said the country's fish production will increase 80% from the previous year to 214,600 tons in 2023. However, Saudi Arabia's fish consumption continues to exceed its production, forcing the country to rely heavily on seafood imports to make up the deficit. Three years ago, the gap between domestic seafood production and demand was even larger, with production reaching 99,000 tons in 2021, while consumption reached 250,000 tons. Nazari said one of the initiatives of the Ministry of Environment, Water and Agriculture aimed at promoting growth is to accelerate the development of 16 fishing ports along Saudi Arabia's coast bordering the Persian Gulf and the Red Sea, including European bream, sea bass, striped bass, etc. This will help support the country's marine fish production, which is the main source of domestic fish production. The fishing ports along Saudi Arabia's 2,500 kilometers of coastline are aimed at targeting ...
Source: Foodmate

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