Myanmar bags US$44 mln from export of over 12,000 MT of shrimps to foreign markets in 9 months

More than 12,355 metric tons of shrimp worth over US$44 million were conveyed to foreign countries in the past nine months (April-December) of the current 2022-2023 Financial Year, according to the Fisheries Department.
The export volume this FY was up by 1,966 MTs compared to the 10,388 MTs registered in the corresponding period last FY.
The seaborne trade is the primary source for shrimp exports and shrimps are delivered to the neighbouring countries through the border posts. The fisheries export amounted to $732.156 million in the 2018-2019FY, $858.96 million in the 2019-2020FY, $785.021 million in the 2020-2021FY and $481.657 million in the 2021-2022 mini-budget period.
Myanmar’s fisheries products are yearly shipped to 45 countries. At present, live animals in the livestock sector are mainly exported to neighbouring countries via cross-border trade. To implement the commercial shrimp farming businesses, the shrimp larvae are imported from neighbouring countries. Therefore, the Ministry of Agriculture, Livestock and Irrigation elaborated on the need for a public-private partnership to operate shrimp hatcheries in the country.
Myanmar produced over 5,300 tonnes of freshwater and saltwater fish and shrimp in the 11 months of the 2019-2020FY, with over 2,800 tonnes supplied by the saltwater fishing businesses. Between October and August of the 2019-2020FY, fisheries production stood at 1,055.66 tonnes by livestock businesses, 295.4 tonnes by fish farms, 1,120.74 tonnes by communal fishing enterprises and 2,844.83 tonnes by saltwater fishing businesses.
Myanmar’s agriculture sector is the backbone of the economy, accounting for 30 per cent of the Gross Domestic Product (GDP) and 68 per cent of the income of the rural communities, the ministry stated. — TWA/EMM