Myanmar’s fishery exports cross $449 mln in 2019-2020FY

Export earnings from the fisheries sector during the period between 1 October and 13 March in the 2019-2020 financial year reached US$449.669 million, an increase of $56 million from the year-ago period, according to statistics released by the Commerce Ministry.
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 neighboring countries.
The Myanmar Fisheries Federation (MFF) is making concerted efforts to increase fishery export earnings by developing fish farming lakes that meet international standards and adopting advanced fishing techniques. The MFF plans to establish fish lakes, aqua feedstuff processing factories, cold storages, and packaging factories, in cooperation with foreign experts.
There are over 247,000 acres of fish farms and 240,000 prawn breeding farms across the country. Myanmar exported 340,000 tons of fishery products worth $530 million in the 2013-2014FY, 330,000 tons worth $480 million in the 2014-2015FY, 360,000 tons worth $500 million in the 2015-2016FY, 430,000 tons worth $600 million in the 2016-2017FY, 560,000 tons worth $700 million in the 2017-2018FY, and over 580,000 tons in the 2018-2019FY, according to the Commerce Ministry.
An MFF official said the federation has requested the government to address problems faced in the export of farm-raised fish and prawns through G2G pacts and ensure smooth freight movement between countries to bolster exports.
Myanmar has been negotiating with China to export more fishery products through G to G pact. More than 110 Myanmar companies have been allowed to export 101 items of fishery products to China.
According to the MFF, integrated poultry and fish farming cannot ensure food safety, which is a prerequisite for export. Therefore, the federation has asked for the formulation of a law to restrict that kind of mixed farming. Fish farming must be conducted as a large-scale project to gain access to Project Bank loans, according to the federation.—GNLM (Translated by EMM)

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