Cabinet approves tariff relief on milk fish imports to support local production

Colombo, Dec. 23 (Daily Mirror) - The Cabinet has approved a proposal by the Minister of Fisheries, Aquatic and Marine Resources to provide tariff relief on the import of Milk fish until local production can fully meet demand.

Under the new measures, a separate Harmonized System code will be introduced for imported Milk fish, which will be allowed through registered fishing societies. Additionally, a special trade tax of Rs. 180 per kilogram will be levied on imported Wekkaya fish, with a concession of Rs. 130 per kilogram for fishing societies importing the species.

Milk fish, along with Ribbon fish, flying fish, and Cuttlefish, are commonly used as bait in longline fishing gear by owners of multi-day deep-sea fishing vessels targeting high-quality tuna species. These catches are highly valued in the international market and represent a sustainable approach to utilizing fishery resources.

Currently, around 2,200 multi-day fishing vessels operate in the country, requiring approximately 8,000 metric tons of bait fish annually, while local production can supply only 4,000 metric tons. To address this shortfall, the government plans to encourage private-sector investment in local Milk fish production for bait in the near future.