Fishery exports exceed $680 mln as of 12 June

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Workers sort out prawns at a sea food processing factory in Kawthoung. Photo : Aye Than

Export earnings from the fisheries sector during the period between 1 October and 12 June in the 2019-2020 financial year reached US$683 million, an increase of $101.88 million from the year-ago period, according to the statistics released by the Ministry of Commerce.
Myanmar exports fisheries products, such as fish, prawns, and crabs, to markets in 40 countries, including China, Saudi Arabia, the US, Japan, Singapore, Thailand, and countries in the European Union. However, Myanmar’s fishery export volume is much lower compared to neighbouring countries.
The Myanmar Fisheries Federation (MFF) is making concerted efforts to increase fishery export earnings by developing fish farming lakes which meet international standards and adopting advanced fishing techniques. The MFF plans to establish fish lakes, aqua feedstuffs processing factories, cold storages, and packaging factories, in cooperation with foreign experts. At present, the fisheries sector is hit hard by the coronavirus outbreak. More than 3 million people are relying on this sector and the businesses need government’s support to keep surviving amid the pandemic, said MFF secretary U Win Kyaing. There are over 247,000 acres of fish farms and 240,000 prawn breeding farms across the country. Myanmar exported 340,000 tonnes of fishery products worth $530 million in the 2013-2014FY, 330,000 tonnes worth $480 million in the 2014-2015FY, 360,000 tonnes worth $500 million in the 2015-2016FY, 430,000 tonnes worth $600 million in the 2016-2017FY, 560,000 tonnes worth $700 million in the 2017-2018FY, and over 580,000 tonnes in the 2018-2019FY, according to the Commerce Ministry. — GNLM (Translated by Ei Myat Mon)

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