Maldives seeks to grow seaweed export into a bigger revenue generator than skipjack tuna

The Fisheries Ministry states that it hopes to grow the seaweed export trade launched in the Maldives last year to a business that generates the same or even higher level of revenue than the country’s biggest export – skipjack tuna.

Floating Acres, a private mariculture firm, launched the pioneering initiative to commercially cultivate seaweed in April 2025 in B. Fehendhoo.

In an appearance on Public Service Media (PSM)’s ‘Raajje Miadhu’ show on Saturday night, State Minister for Fisheries Mohamed Muthalib said the firm began with the capacity to cultivate 100 kilos of seagrass, but now cultivates and exports 63 tons of seaweed each month.

Describing this as a good investment, Muthalib said that the government plans to support the nationwide expansion of the seaweed trade.

He said that the government hopes to grow seaweed export into a trade that generates an equal or even higher level of revenue than skipjack tuna, which is the country’s biggest export.

The government has designated areas in Boduthiladhunmathi, which includes HA. Atoll and HDh. Atoll, as well as R. Atoll, M. Atoll, and Th.  Atoll, and a two-kilometer lagoon from K. Maniyafushi, for mariculture.

Fisheries Minister Ahmed Shiyam has stated that the government hopes to grow the country’s mariculture industry into a billion-Rufiyaa industry.