The Maldives is set to export its first batch of commercially cultivated seaweed, marking a significant step in the island nation’s efforts to diversify its economy and advance its “Blue Economy” strategy.
The milestone reflects a broader policy shift under President Dr Mohamed Muizzu, whose administration has prioritised sustainable use of the country’s marine resources.
The initiative was spearheaded by private firm Floating Acres, which began large-scale seaweed cultivation on 20 April in Fehendhoo, Baa Atoll. The company has now prepared its first stock for export, signalling the beginning of commercial mariculture operations in the Maldives.
Fisheries and Ocean Resources Minister Ahmed Shiyam praised the development, describing it as “an important milestone in realising the vision of President Muizzu to diversify our blue economy and promote sustainable marine industries”. In a post on X, he said he hoped the country would continue to “generate profit from the ocean in a sustainable manner”.
The export launch follows regulatory reforms introduced by the current administration, which lifted long-standing restrictions on mariculture. The policy changes allowed Floating Acres to move ahead with commercial farming after years of delayed approvals.
Before the reforms, the company had carried out research demonstrating the viability of seaweed farming in Maldivian waters but had been denied commercial authorisation. The government’s updated mariculture policy provided the framework needed for expansion into the sector.
The global seaweed market, valued at USD 17.14bn in 2023, is expected to double by 2032. Asia remains the leading producer, accounting for 98% of global supply, with China, Indonesia, South Korea and the Philippines dominating production.
For a nation made up of 99% ocean, the implications of mariculture are far-reaching. Officials say seaweed farming could create new employment opportunities, boost exports and stimulate growth across related industries in the fisheries sector.
