Exports of the fishery sector are down as the country’s marine products have gradually decreased, with export revenue expected to keep falling below US$500 million this financial year, according to an exporter organization.
Last year, total fishery exports were valued at US$536 million.
Daw Toe Nanda Tin of the Myanmar Fishery Products Processor and Exporters Association (MPEA) said the sector needs an effective action plan to develop Myanmar’s aqua-culture system, which plays a key role in increasing the numbers of fishery products that can also help exporters meet demand in China, the EU and the US.
U Win Kyaing, general-secretary of Myanmar Fishery Federation (MFF), advised businesspeople in the fishery industry that they should place emphasis on shifting from fishing to fish farming as the industry has a poor natural resource due to illegal short wave fishing and other marine-related problems.
But, local breeders need technology support which is vital to successfully start transplant fish farming, he added, saying that poor electricity and transportation are some of the challenges facing the breeders.
Currently, local fish and prawn farmers have been producing fishery products from about 4-acre farms but it is not enough to meet the needs of both local and foreign consumption. Therefore, they seek to assistance to acquire grandparent stock for breeding exportable fishes such as Tilapia, Daw Toe Nanda Tin said.
Sustainable development of the fisheries sector is being prepared for the Myanmar Business Forum, according to the Myanmar Fisheries Federation (MFF).