Saudi Arabia is adding a new commodity to its oil-heavy trade with China: frozen shrimp.
The world’s largest oil exporter has shipped 6,000 tons of the crustaceans to China since last week, Ahmed Al-Bala’a, chief executive officer of the National Aquaculture Group, said in a statement.
It’s a modest but tasty step toward diversifying sales to one of the kingdom’s biggest commercial partners.
The emerging trade represents more than a new source of shellfish for the world’s most populous nation. Saudi Arabia is testing the waters in China for shrimp as it seeks to reduce its reliance on oil and develop new industries and lines of business.
Saudi shrimp exports to China should exceed 30,000 tons by the end of the year, said Al-Bala’a, whose closely held company operates a sprawling network of shrimp farms on the Red Sea coast. National Aquaculture Group is the only Saudi company exporting shrimp to China, he said.
Shipments are likely to jump to 80,000 tons by 2020, generating more than 2 billion riyals ($533 million) in revenue, as a result of an agreement the two governments signed in November, the state-owned Saudi Press Agency reported last month.
Even so, the shrimp peddling coincides with a surge in China-bound shipments of Saudi Arabia’s main export. Saudi crude cargoes to China soared on Dec. 3 to the highest daily level in 23 months of data tracking. China accounts for about 15 percent of Saudi crude sales this year, according to Bloomberg NEF.
China gobbles more shrimp than any other Asian country. While it’s one of that region’s biggest producers, Chinese output of the seafood has stagnated in recent years due to disease and poor weather, according to the United Nations’ Food & Agriculture Organization.
Dubai South to host fish farm as UAE scales up on aquaculture
The UAE's Ministry of Climate Change and Environment (MOCCAE) has inked a memorandum of understanding (MoU) with Dubai World Central (DWC), also known as Dubai South, to scale up the local aquaculture industry by setting up a fish farm.
Under the agreement, MOCCAE will facilitate the registration and licensing procedures for the DWC fish farm and provide consultancy advice.
Following a feasibility study of proposed species with regard to their local market value, the Ministry will select the species best suited for cultivation, a statement said.
Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Khalifa Suhail Al Zaffin, executive chairman of DWC, signed the MoU.
Al Zeyoudi said: "National enterprises that are based on top-notch research studies and technologies are key drivers in our efforts to diversify food sources and increase the share of food produced at home to meet the needs of the local market.
Plans revealed for fish hatchery in Umm Al Quwain
The UAE's Ministry of Climate Change and Environment (MOCCAE) has signed an agreement with Fish Farm authorising the latter to operate a fish hatchery in Umm Al Quwain.
Sultan Alwan, Assistant Under-Secretary of the Regions Sector at MOCCAE, and Bader bin Mubarak, CEO of Fish Farm, signed the agreement for the hatchery at the ministry’s Marine Environment Research Centre.
Under the agreement, the ministry authorises Fish Farm to operate and manage the fish hatchery that comprises 24 tanks, with a capacity of 10 cubic metres each.
In addition to managing and operating the hatchery, Fish Farm is mandated to install 300 artificial caves every year for the three-year agreement, state news agency WAM reported.
Alwan said the agreement is aimed at improving the long-term sustainability of fisheries as a primary pillar of food diversity in the country.
"To meet this priority, we are keen to encourage the private sector to invest in marine aquaculture through supporting and facilitating such investments. The new initiative is an extension of our artificial caves programme launched in 2016 to build artificial habitats that provide a safe environment for the breeding of fish and other marine species.
Combined with the fishing regulations introduced by the ministry, the programme has led to a remarkable improvement in fish populations in these waters, as evidenced in a 2017 survey to study its impact."
MOCCAE, in collaboration with the Environment Agency - Abu Dhabi, conducted a survey on fish populations in the UAE’s waters along the Arabian Gulf and the Sea of Oman at the end of 2017.
While previous surveys in 2001 and 2011 showed a decline in fish populations over 1980 numbers, the 2017 survey indicates that this decline has been curbed.
Furthermore, in some areas along the Sea of Oman, fish populations are once again thriving and several economically important species have been spotted for the first time.
Mubarak said: "The agreement leverages Fish Farm’s long-standing experience in marine aquaculture and managing fish hatcheries. We aim to help in finding modern solutions to the future challenges of sustaining fish populations locally and protecting all species against extinction and depletion."
He added that the company produces 2,500 tonnes of fish per annum and is a key contributor to enhancing food diversity in the UAE.
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