Fishery exports fetch $173 mln in current fiscal year

Myanmar’s exports of fishery products between 1 October and 7 December totalled about US$173 million, an increase of $29.6 million compared with the same period last year, according to statistics released by the Commerce Ministry.
Fishery exports at the Thai-Myanmar border points of Myawady, Kawthoung, and Myeik registered an increase in the first two months of the 2018-2019 FY compared with the previous financial year.
Myanmar exports fishery products such as fish, prawn, and crabs to 40 countries, including countries in the European Union, China, Saudi Arabia, the United States, Japan, Singapore, and Thailand.
Saudi Arabia’s suspension of fish imports from Myanmar beginning April has affected rohu fish suppliers this year. Myanmar keeps only 25 per cent of rohu fish for local consumption and exports the remaining 75 per cent to Saudi Arabia, the UAE, and Bangladesh. Myanmar exports farmed fish to Saudi Arabia, which accounts for 30 per cent of farm-raised fish exports and 40 per cent of rohu exports. The local fishery sector is also facing difficulties due to high aquatic feed prices.
Myanmar’s fishery exports touched a high of over $650million in the 2012-2013 FY. Thereafter, the value of exports has gradually declined due to erratic weather and scarcity of fish on account of illegal fishing methods.
The Myanmar Fisheries Federation (MFF) is making concerted efforts to increase export earnings by developing fish farming lakes which meet international standards and adopting advanced fishing techniques. There are 480,000 acres of fish and prawn breeding farms across the country. Myanmar’s fisheries sector earnings were pegged at over $717 million in the last fiscal year.

Source: Global New Light of Myanmar

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