Fishery exports cross $700 mln

Fishery export prices to Thailand plunge by 50 per cent

MYANMAR fishery products’ export price to leading buyer Thailand slumped by 50 per cent, said U Win Kyaing, general secretary of Myanmar Fisheries Federation (MFF). Myanmar mainly ships mackerel fish to Thailand through Kawthoung-Ranong border. It fetched 100-120 baht per kilo last year, and the price sharply fell to 50-55 baht per kilo. Thailand did not stop trading, yet the offering price drastically dropped. During a bear market, the income generated by fishery products also decreased. Surprisingly, the market experienced a 50 per cent drop.

At present, the country is primarily conducting border trade with Thailand’s neighbouring country through those border posts; Kawthoung-Ranong, Mawtaung in Myeik, Hteekhee in Dawei and Myawady. Thailand has shut down the border with Hteekhee and Mawtaung. The central trading post (Kawthoung-Ranong) is still open for trading. However, to contain the spread of COVID-19, Myanmar traders cannot enter Thailand’s side, and the trading occurred only at the pier. Kawthoung-Ranong generated an income of US$250 million out of total fisheries export value with Thailand at $318 million in the previous financial year2019-2020, MFF stated.

Thailand is the primary buyer of Myanmar’s fisheries
products. Last FY, Myanmar shipped $318 million worth fisheries products to Thailand, while the total fishery exports stood at $850 million. The federation expects to reach fishery export target of $1 billion in the current FY2020-2021. Nevertheless, the fishery exports touched a low of $242.352 million between 1 October 2020 and 1 January 2021, which plunged from $261.994 million registered a year-ago period. The figures reflected a decrease of $19.6 million over the Q1 of the current FY compared with the last FY2019-2020, the Ministry of Commerce’s data showed. Myanmar’s fisheries products are exported to 45 foreign countries, and Thailand is the primary buyer of the fisheries products, followed by China.

Source: The Global New Light of Myanmar

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