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Fishery Export Earnings Set To Decline In The Years 2015-16

Revenue from fish exports in fiscal year 2015-16 will be lower than in the previous fiscal year, said Myanmar Fisheries Federation (MFF).

According to statistical data to MFF, in the years 2015-16 fiscal year on January 31 the export of fisheries products stood at $ 372 million. On March 31, when the current year ends, the figure could be about $ 450 million.

Read Also: China Importers Interested Myanmar Mangos and Avocados

“Exports of fish from the previous year amounted to more than $ 482 million. In the current year, even if the potential income of the remaining two months is added, it can not reach the amount earned last year. Income from exports will undoubtedly decrease this year, “said Chairman of the Myanmar Fisheries Federation U Han Tun.

The total area planted was approximately 93,400 acres this year – 34,720 acres to 58,000 acres of aquaculture and shrimp farming. According to statistical data to MFF, 20 percent of the area of agriculture was destroyed by floods on the national scale in August last year, resulting in lower yields.

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“Because of the flood, we have lost a lot of fish farming areas. During the re-cultivation of fish farms fish prices are likely to increase.The government must provide farmers with seedlings of fish, support them and to stabilize prices, “Myanmar Fisheries Secretary Federation U Win Kyaing said.

According to statistics from the Association of Myanmar Fisheries Exporters’, in 2014-15 the majority of Myanmar fish exports went to China, a total of 75,730 tons of aquaculture products, earning $ 169.69 million.

Read Also: Myanmar to discuss rice export to Sri Lanka

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