Myanmar's revenue from fishery exports in the 2015-16 fiscal year will be lower than the previous year: earnings from fishery exports last fiscal year was more than 482 million USD (Myanmar Fishery Federation - MFF)

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

According to MFF statistics, in 2015-16 fiscal year until January 31 export of fishery products stood at $372 million. By March 31, when the current fiscal year finishes, the figure could reach about $450 million.

“The earning from fishery export of the previous year was more than $482 million. For this fiscal year, even if the potential earning from the remaining two months is added, it might not reach the amount earned last fiscal year. Export revenue will surely decrease this year,” Myanmar Fishery Federation Chairman U Han Tun said.

The total cultivated area for this fiscal year was about 93,400 acres – 34,720 acres for aquaculture and 58,000 acres of prawn farming. According to MFF statistics, 20 percent of the farming area was destroyed in the nationwide floods last August, resulting in decreased yield.

“Because of the flood we lost a lot of fish farming areas. During the re-cultivation of the fish farms the prices of fish are likely to increase. The government should supply farmers with fish seedlings to support them and stabilise the prices,” Myanmar Fishery Federation Secretary U Win Kyaing, said.

According to the statistics of Myanmar Fishery Exporters Association, in 2014-15 most of Myanmar’s fishery exports went to China, with a total of 75,730 tonnes of aquaculture product earning $169.69 million.

Reference: http://mmbiztoday.com/articles/fishery-export-income-set-drop-2015-16

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