Government Eyes Seaweed Exports Matching Tuna Revenue

The government has expressed hopes of expanding the Maldives’ emerging seaweed export industry into a sector capable of generating revenue on par with, or exceeding, that of skipjack tuna, the country’s largest export.

The seaweed export trade was launched in April 2025 by Floating Acres, a private mariculture company, through a commercial cultivation project in B. Fehendhoo. The initiative marked the first large-scale effort to cultivate seaweed commercially in the Maldives.

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Speaking on Public Service Media’s (PSM) Raajje Miadhu programme on Saturday night, State Minister for Fisheries Mohamed Muthalib said the project began with the capacity to cultivate 100 kilogrammes of seaweed. He said production has since expanded significantly, with the company now cultivating and exporting 63 tonnes of seaweed each month.

Muthalib described the project as a successful investment and said the government intends to support the expansion of seaweed farming across the country. He noted that the long-term goal is to develop seaweed exports into a major industry capable of generating revenue equal to or greater than that earned from skipjack tuna exports.

As part of efforts to expand mariculture, the government has designated several areas for development, including locations in Boduthiladhunmathi covering Haa Alif and Haa Dhaalu atolls, as well as areas in Raa, Meemu and Thaa atolls. A two-kilometre lagoon area from K. Maniyafushi has also been allocated for mariculture activities.

The government has identified mariculture as a key area for economic diversification. Fisheries Minister Ahmed Shiyam has previously stated that the administration aims to develop the Maldives’ mariculture sector into a billion-rufiyaa industry.

The expansion of seaweed cultivation forms part of broader efforts to create new export industries and reduce reliance on traditional fisheries products while increasing economic opportunities in the outer atolls.