Maritime and Fisheries Business of Indonesia in 2023 is Full of Challenges

Indonesia exports of fishery products reached USD5.6 billion or the equivalent of IDR 87.25 trillion until November 2023.

This figure is far from the target of the Ministry of Maritime Affairs and Fisheries (KKP) for 2023, namely USD 6.7 billion or the equivalent of IDR 104.2 trillion.

Minister of Maritime Affairs and Fisheries Sakti Wahyu Trenggono acknowledged that there are many obstacles to realizing the export value of fishery products that have been targeted throughout 2023. One of the obstacles concerns the quality of the products exported.

Even though fisheries and aquaculture products are abundant in the country, Trenggono views that domestic fisheries products still have to adapt to the export quality standards of other countries.

"The 2023 target is USD 6.7 billion, but only USD 5.6 billion has been achieved, meaning it has not been achieved. "There are many obstacles," explained Trenggono.

"My first explanation was that our fisheries products are abundant, aquaculture is also adequate. "But has it met export quality standards? Frankly, this is a challenge," he continued.

The business challenges of 2023 were also recognized by the Indonesia marine and fisheries startup player, Aruna. It was revealed that unstable global conditions in 2023 will also have an impact on decreasing demand for seafood from several countries, especially the world's main market, namely the United States.

Inflation and interest rates are the main factors in this condition, causing consumers to turn to looking for seafood at cheap prices and creating tight price competition for business people.

Aruna also responded to this by maintaining positive business performance and a strategic position in the seafood industry sector. Supported by a business operational area covering more than 90% of Indonesia, and Aruna's superior product commodities such as crab meat, fish and lobster are indicators of success in 2023.

"Last year's global conditions were indeed a challenge for all of us, but the existence of Aruna's business is still considered in the global seafood industry sector. Market conditions cannot be predicted, but the right and mature business strategy is able to deliver Aruna to close 2023 with positive and sustainable growth. "In 2024, we are even more optimistic to focus on achieving a larger market share for Aruna's superior product commodities," emphasized Aruna Co-Founder and Chief Executive Officer, Farid Naufal Aslam.