Squalene from Kerala may impact forex earnings

Hathoon Sheriffdeen

EXPORTS: Squalene or shark liver oil exported to Japan from Sri Lanka earns $ 24 million per year but due to the North-East conflict becoming severe this export has been forgotten by the country. “We are the only company who export Squalene or shark liver oil. We export two containers per month, each contains 15 tonnes.

“Through one container we earn $1 million in export earnings,” Chairman, Hideki International (Pvt) Ltd., Dr Kalpage Wickramasinghe said.

“Shark liver oil is in great demand in Japan. In the 1980s I started this business on the instructions of my Japanese partner. In Sri Lanka, we have these sharks in a few areas, such as, Muttur, Kalpitiya and Matara. These specific sharks live in the deep ocean, more than 100m in depth, he said.

“From next month we are planning to import Squalene from Kerala, add value like packing and re-export them to Japan. This will reduce our foreign exchange earnings rapidly. And we have been losing approximately $24 million per annum by not exporting Squalene shark liver oil, Wickremesinghe said.

‘Eighty per cent of this shark contains liver. Oil is extracted from the shark liver through a natural process. By using the sun light and sun’s heat the liver oil is extracted. We have trained fishermen in Muttur, Kalpitiya and Matara areas to extract the oil from the shark liver in a moderate way, Wickremesinghe explained.

This oil is used to manufacture health foods and cosmetics. This has great medicinal value and it protects and gives beauty to the human skin as well.