Welsh government announces US$1.8M fund to boost fishing industry
UK – The Welsh government is allocating US$1.8 million to support the marine, fisheries, and aquaculture sectors in Wales.
The funding, managed under the leadership of Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs, Huw Irranca-Davies, aims to address challenges facing the industry while aiding coastal communities.
Applicants meeting the eligibility criteria can receive between US$650 and US$130,000, with 11 categories of activities identified for financial support.
These initiatives are designed to promote growth and sustainability within the fishing sector.
This comes as the fishing industry in Wales faces various challenges in its effort to flourish.
The industry has experienced a significant downturn over the past decade.
The volume of fish landed has dropped by 75%, while the value has decreased by 41%.
Additionally, the number of registered fishing vessels in Wales has declined by approximately 6% annually since 2018.
Role in UK Exports
Despite the challenges, Wales accounts for 22% of the UK’s seafood exports.
The fishing sector continues to play a role in the UK’s economy, which benefits from an abundance of fish species due to its proximity to the Atlantic Ocean and the North Sea.
Popular catches across the UK include mackerel and herring.
The UK’s fishing industry, which has historically held great significance, faces ongoing challenges such as overfishing, which threatens marine ecosystems and food supplies.
In 2023, UK households spent approximately US$5 billion on fish, a decline from US$5.2 billion in 2022.
Cod and haddock remain the most consumed fish in the country, with chilled fish being the preferred option for most seafood buyers.
Meanwhile, imports of frozen fish have seen growth, peaking in 2019. Salmon, cod, and tuna are among the most imported fish varieties.
The new funding initiative seeks to address some of these challenges and ensure the sector’s resilience in the face of declining production.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
