The first and largest government-owned Sea Cucumber breeding center will commence under the directives of Fisheries Minister Mahinda Amaraweera on 25th March in Olaithuduwa, Mannar as a project to popularize the formal Sea Cumber farming in Sri Lanka with a view to delivering foreign exchange earnings to the fisher community and to the national economy.
Sea Cucumber farming holds a high demand in the international market even though it is not much popularized among the Sri Lankan fisher community. The price of 1kg of Sea Cucumber in the international market amounts to Rs. 20,000 - 30,000.
The government will be fully funding the proposed Sea Cucumber Breeding Centre which is estimated to be Rs 185 million. Minister expressing views in this regard mentioned that the government expects to excel the fisheries industry to the first or second position of Sri Lankan exports by the year 2020.
Export income earned by fish exports during last year is Rs 1.2 billion and it is expected to be increased up to 1.3 billion by 2020 and five billion by 2030. The government has identified the importance of developing fisheries in the achievement of this goal, the Minister said.