The export value of Myanmar’s fish and fishery products between 1 April and 17 June of the current financial year 2022-2023 amounted to over US$113.5 million, which indicated a decrease from $6.59 million in the corresponding period of last financial year 2020-2021, the Ministry of Commerce’s data indicated.
During the close season for fishing, there was low inventory in the domestic market so the prices slightly increased.
Myanmar put a three-month (April-June) stop to the fishing season in Myanmar sea. However, 30 per cent of fishing trawlers are ruled out one month earlier than usual for the local self-sufficiency and export markets. Therefore, fishing businesses that generate foreign income have resumed in June.
The Ministry of Agriculture, Livestock and Irrigation is focusing on boosting production, exploring new markets, increasing export items, enhancing the livelihood of local people, providing financial assistance to the farmers, promoting the fish consumption of the people and tackling the challenges together with all the stakeholders.
Moreover, Myanmar Fisheries Federation (MFF) is striving for the pedigree and genetic improvement for the sustainable utilization and the fish and shrimp research centre to disseminate the information to the farmers for the fishery sector development.
The marketable marine products, especially fish, shrimp, eel and crab from Taninthayi and Ayeyawady regions and Rakhine State are primarily exported to foreign markets.
Myanmar normally exports marine products, such as fish, prawns, and crabs, to markets of 40 countries, including China, Saudi Arabia, the US, Japan, Singapore, Thailand, and countries in the European Union.
The Chinese market constitutes about 65 per cent of Myanmar’s fishery exports, accounting for US$254 million out of overall fishery export value of over $850 million in the FY 2019-2020. At the present time, China shut down the border areas in wake of the COVID surge in Myanmar. The federation is turning to the Bangladesh market with export potentials at present.
There are 480,000 acres of fish and prawn farms across the country and more than 120 cold-storage facilities in Myanmar.—KK/GNLM