Evolution of the strategies for betterment of future: A case study of export oriented seafood industry in Sri Lanka

Research PaperExports of fish products are important to diversify sources of income and achieve higher standards of living to fisher folk. This paper attempts to trace the strategic situation of export oriented seafood industry in Sri Lanka, focusing on how the international market dynamics have influenced the emergence and development of the sector. The study was heavily based on primary data collected from major exporting commodities such as prawn, tuna, and shark fin. Situation audit highlighted that structural problems among policy makers, research and fishers hurdle in the way for further development. Location and resources are crucial geographic factors influencing to stimulate the export diversification across fishery products with competitive pricing. International market regulations have significant impact on adaptation for export markets. Explore non-traditional species, value addition and product differentiation, market expansion and marketing campaigns for identical products, improve domestic marketing, expansion of prawn (abundant limestone pits in southern coast) and crab farming and competitive export pricing with quality products are the important S-T strategies. More influential W-O strategies are lowering the dependency on subsidies, access opportunity for capital and technology, trade fairs for promote brand names and prior opportunities for private sector participation. S-T and W-T strategies show the ways to develop competitive advantage overcome by threats. Industry is far from a situation where it can live up to the demands expected to be place upon it by the international market in future