The Ministry of Fisheries, Agriculture and Ocean Resources has officially issued one-year export quotas for sea cucumber to seven licensed parties.
The move comes as part of the Maldives’ commitment to sustainable fisheries management following the international listing of the species under protective trade regulations.
The amberfish sea cucumber was listed under Appendix II of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) during the 19th Conference of the Parties (CoP19) in November 2022.
Following an 18-month preparatory period, the listing officially took effect on 25 May 2024. Under CITES Appendix II regulations, international trade of the species requires a specialized permit, which is only granted if the exporting nation's scientific authority verifies through a "Non-Detriment Finding" (NDF) that harvesting will not threaten the species' survival.
In alignment with these requirements, the Maldives Marine Research Institute—serving as the nation’s CITES Scientific Authority—formulated an NDF to establish clear biological boundaries and regulatory frameworks for the fishery.
Based on the scientific findings, the Ministry has capped the total annual export of dried sea cucumber at 10.95 tonnes for the next 12 months. According to the established distribution guidelines, 55 percent of this total quota has been allocated directly to authorised commercial exporters, while the remaining 45 percent is being held in reserve.
Seven licensed companies have been selected to receive an initial export quota of 860 kilograms each:
Ocean Tides International
SM Investment
Malak Investment
Vilingili Fish Village
Sky Go International Private Limited
Fames Group of Industry Private Limited
Trade Bridge Private Investment
To encourage active trading and efficient resource utilisation, the Ministry has introduced dynamic quota guidelines. Exporters who utilise at least 95 percent of their initial 860-kilogram allocation will be permitted to apply for an additional allocation of up to 1.5 tonnes from the reserve quota. Additionally, the guidelines offer market flexibility by allowing licensed exporters to transfer either a portion or the entirety of their allocated quota to another eligible party.