Page 11 - AA 2025 Year Book Summary

Editorial

fish at 20%, canned fish at 17%, frozen fish at 11%, and fish
fillets at 7%. In terms of value, frozen Kamchatka crab consti-
tutes nearly 70% of Russian exports, with canned crab at 24%,
smoked fish at 4%, and caviar at 3%.

GCC Fisheries and Aquaculture Market News
September 2024: The Oman Investment Authority (OIA) fa-
cilitated the merger of Fisheries Development Oman (FDO)
with Oman Food Investment Holding Company (NITAJ). This
strategic move aims to optimize operational efficiency and re-
duce expenditures for both entities. Furthermore, the merger
is poised to bolster Oman’s food security, elevate product
quality, and enhance cost efficiency, all in alignment with
Oman Vision 2040.

July 2024: The National Centre of Fisheries, Saudi Arabia
granted 18 licenses for aquaculture projects in the Mecca re-
gion, encompassing roughly one-third of Saudi Arabia’s Red
Sea coastline.
December 2023: Aqua Bridge Group, a company focused
on aquaculture development, and Enertech, the Kuwait-based
innovator, investor, and developer of end-to-end sustainable
2024 with Malta’s AquaBioTech Group. AquaBioTech is set to solutions, have announced the launch of Aqua Bridge Kuwait
offer a suite of consulting and advisory services, aiding FDO on the side-lines of COP28 in Dubai, UAE The joint venture
in cultivating a sustainable aquaculture and fisheries sector in aims to build a sustainable agri-food system that is equipped
Oman, including business strategy formulation and technical to cope with global economic shocks and disruptions.
due diligence.

United Arab Emirates is the Region’s Top Importer
The United Arab Emirates (UAE) government is focusing
on increasing aquaculture projects as it is a viable source for
improving the region’s food securit–º–––y which is the major
concern in the country. Rapid growth and development and
the diverse population of the UAE, coupled with the rising
consumption of seafood, are likely to be the major factors that
is driving the fisheries and aquaculture sector.
Data from ITC Trademap highlights that shrimp topped the
import list, valued at a substantial USD 243,787 Thousand.
Other notable imported species encompassed Salmon, Sea
Bass, and Sea Bream. Consumers in the UAE show a prefer-
ence for various fish species. These include small pelagic
varieties like sardines and mackerel, as well as larger pe-
lagic types such as tuna. Additionally, species like grouper,
emperor, tilapia, and pomfret enjoy significant popularity in
the nation.

Over the past five years, Russia has nearly doubled its fish
and seafood shipments to the UAE, rising from USD 3.4 mil-
lion in 2019 to USD 6.5 million in 2023, as reported by the
Analytical Center of the Fisheries Union, Russia. Crustaceans
dominate the UAE’s imports from Russia. Specifically, crab
and shrimp make up 36% of the imports, followed by chilled
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