Jun 17, 2013

Myanmar seafood export to rise

Myanmar's seafood export is expected to rise this year as the European Union (EU) is implementing a plan to import farmed seafood products from Myanmar following its removal of trade sanction on the country, official media reported Monday.

The EU's planned import of Myanmar's seafood would help the country boost seafood export, said the New Light of Myanmar newspaper.

Buyers from EU, the United States and other countries are looking to the country to make up global short supplies of wild shrimps and other farmed species such as Tilapia.

Myanmar produced 4.5 million tons of seafood products including wild and farmed spices in 2012, up from 4.1 million tons in 2011.

Myanmar, along with Bangladesh, has produced Black Tiger and Pacific white shrimp which fetch a good price in the Japanese market and EU is expected to become Myanmar's next prospective seafood market.

However, Myanmar's farmed shrimp sector is struggling to revitalize as its infrastructure was badly affected by natural disaster and international financial support is being needed for its rehabilitation.

Source: Xinhua