NOURISHING a projected global population of 9 billion by 2050 stands as a colossal challenge, demanding a unified response from farmers, food processors, traders, researchers, technical experts, and global leaders. Aquaculture, offering a sustainable and scalable protein source, emerges as a pivotal solution in addressing this critical issue. By harnessing the potential of fish and other aquatic products, we can not only diversify food supplies to satisfy the escalating dietary demands of a burgeoning population but also provide a crucial lifeline for millions grappling with food insecurity, particularly within vulnerable communities. Aquaculture has the potential to alleviate pressure on terrestrial resources, enhance food security, and boost nutritional outcomes, making it an indispensable component of a sustainable food system capable of meeting the needs of a growing and increasingly diverse world population.
The global seafood market is experiencing unprecedented growth, driven by the burgeoning aquaculture sector. A pivotal shift has occurred, with aquaculture surpassing traditional fishing as the primary source of seafood production. This transformation is underscored by the UN’s Food and Agriculture Organization’s data, revealing a substantial increase in aquaculture output to 96 million metric tons in 2023, outpacing the 90.6 million metric tons from capture fisheries. The industry’s economic impact is equally impressive, with aquatic products generating a record $195 billion in 2022. As demand for seafood continues to rise, the imperative for sustainable and increased production becomes increasingly critical.
Leading aquaculture nations like China, Indonesia, India, Vietnam, Bangladesh, South Korea, Egypt and Norway have implemented comprehensive policies to support this growth. Notably, China, now the world’s largest aquaculture producer, has recognized the potential of this sector as a key driver of economic development. Xinjiang, China Southwest province is the leading example of aquaculture, in 2023, Xinjiang’s online retail sales of aquatic products reached 395 million Yuan (about $54.29 million), marking a 106.26 percent increase year-over-year. The depletion of traditional fishing grounds, exemplified by the alarming decline of fish stocks in the Arabian Sea, further emphasizes the urgency of transitioning to aquaculture. Economic analyses also highlight the sector’s profitability, with fish farming often yielding significantly higher returns per land unit compared to traditional agriculture.
Pakistan’s seafood exports took a significant hit in the fiscal year 2023-2024, plummeting by 17.36% compared to the previous year. The total export value dwindled to $410 million (200,709 metric tons) from $496.31 million (214,367 metric tons) in 2022-2023. This decline is attributed to factors like a decrease in average unit price and market stagnation in Southeast Asia, casting a shadow over the country’s “blue economy” ambitions. Pakistan major seafood export share to China, Thailand, Indonesia and Malaysia, besides small quantities of chilled fish to the nations in the Persian Gulf.
It is noteworthy that in prior years, the primary commodities experienced a decrease in price. Squid is among the main commodities that Pakistan sells to China.
This year, its average prices, which in 2022–2023 ranged from US$6.00 to US$7.00/kg, fell to US$2.00 to US$3.00/kg, which significantly affected the price of squid at the local fish markets. Thailand, which stopped purchasing seafood from Pakistan due to overstock from competitors like India and Oman is Pakistan’s other main seafood consumer in the region. Even though Thailand has begun importing fish from Pakistan, the costs are significantly less than what we had anticipated. Failing to comply with Turtle Excluder Device (TED) regulation also made the US place blanket ban on Pakistan’s shrimp import, further dwindling a market access for the country to lose its export share. Over 13000 fish farms, ranging from small to large (avg. 5-10 hectares), operate across Pakistan. While data on fish farmers is limited (integrated with crop farming in many areas), estimates suggest a significant workforce of 50,000 directly/indirectly employed. Aquaculture is one of the fastest growing food production systems, contributing to global food security and nutrition.
While aquaculture offers immense potential, Pakistan’s seafood industry faces significant challenges that must be addressed to capitalize on this growing market and contribute effectively to the nation’s economy.
Pakistan’s budget and economic survey 2023-2024 highlight the potential of Blue Economy. Including it in SIFC and proper aquaculture policies could unlock $1 billion in exports. A large scale of shrimp farming is the only way left to feed the country’s seafood export factories in a bid to expand their reducing global market share. Revisiting the 18thamendment for better federal-provincial coordination is need of hour. Furthermore, implementing supportive policies specifically designed to promote aquaculture development is crucial. These actions, and collaboration with China for expertise, coupled with effective implementation, hold the promise of transforming Pakistan into a major exporter of seafood, with a potential export value of $ 4-5 billion.
—The writer is associated with the National Institute of Maritime Affairs; views expressed are his own.
