More than 160,000 tons of marine products exported abroad within one month

Myanmar earned more than US$70 million on export of more than 160,000 tons of marine products within one month of the 2018-2019 financial years, said a source of the Ministry of Commerce.
From October 1 to November 2 in 2018-2019 FY, Myanmar already realized US$ 73 million from exporting 168,146 tons of marine products.

Myanmar earned US$ 400 million on the export of more than US$ 7.934 million of marine products from 1st April to the end of September during this year.

Myanmar fetched US$ 890 million on export of 1.317 million tons of marine product in 2017-2018 FY, US$ 1400 million on 1.424 million tons in 2016-2017 FY and US$ 1200 million on 1.424 million tons in 2015-2016 FY and US$1200 million on 1.497 million tons in 2014-2015 FY. Htay Myint, Chairman of Myanmar Fisheries Federation, said the 15th regular meeting of the private sector development committee and private businesspersons during March that loan assistance should be provided for the private businesspersons in order to meet the expected income of US$ 3 billion within the next two years. Fish and prawn strains as well as places should be also provided.

In order to meet the target of US$ 3 million from exporting marine products, the private businesspersons are to provide 50 percent, the government 25 percent and the foreign investment 25 percent.

Myanmar’s export volume of marine product is much less than compared with neighbouring countries’. In increasing the export volume, breeding systems should be bettered rather than huge catch of marine animals.

Source: Eleven Media Group