Fishery Products: Fishery Products Faced Losses In Export Market

The export of fishery products has been suspended to China and these products are now being sold to EU market that is a new market for Myanmar with price down.

Myanmar is exporting fishery products to over 40 countries including China, Thailand and Japan and currently, many fishery product export industries that are linking with China have suspended because of the outbreak of Coronavirus COIVD-19.

General Manager, Shwe Yamone Company, Maung Ko Ko said “We are now selling fishery products to EU market with price down. If the price of a container is about 100,000 dollars, we lose at least about 10 million.”

The fishery products are mostly exported through shipping and followed by through Muse border route and the air transport route.

If the losses are going on, it needs to reduce further investments in the breeding tasks in aquatic sector, an official from Myanmar Fisheries Federation.

General Secretary, Myanmar Fisheries Federation, Win Kyaing said “Due to the current market price, it will face losses if the market price is lower than the production cost. So, the breeders are worried about the breeding, production and investment for fishery products. It can affect on the production rate. Now, not only in Myanmar, people are facing this issue globally.”

Vice Chairman, Myanmar Fisheries Federation, Hnin Oo said “We need to find out ways and means to minimize losses. For export products, how we can apply these products in local markets and how we can store them. We need to calculate the cost for this procedure.”

Myanmar is mostly exporting about 10 kind of aquatic products including fish, prawns and crabs and it earned about 728 million USD in 2018-2019 from it.