ICSFDC News Alerts

Myanmar: Over $110 m earned from marine export in a month November 25,2019   |  Source: Eleven Myanmar

Myanmar has earned over US$110 million from exporting marine products in over a month of this fiscal year exceeding over US$18 million compared to the same period of last fiscal year, according to official figures from the Ministry of Commerce.

From October 1 to November 8 in the current 2019-2020 FY, marine export value amounted to US$114.582 million while last year's amount was US$95.949 million. So, this year's amount exceeded US$18.578. Currently, the amount of marine products including fish and prawn Myanmar is exporting is far less than that of its neighbouring countries. Therefore, the country needs to improve farming system rather than catching naturally.

In cooperation with experts from Indonesia, Taiwan and China, Myanmar will build fish farms, fish feed factory and cold storage factories using modern technology with the aim of achieving a target of earning up to US$3 billion. In so doing, the Ministry of Planning and Finance has plans to provide SME loans for helping acquire farmlands for breeding fish and prawns.

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