Sunday, August 20, 2017

Fisheries exports falling behind target

A fish farm worker holds a fish from a breeding pond in this file photo. A fish farm worker holds a fish from a breeding pond in this file photo.

Fisheries exports nearing the midpoint of the financial year are comfortably beating those recorded in the previous year but still well behind target, a Department of Fisheries (DOF) official said at last week’s Myanmar Fisheries Federations meeting.

Fisheries exports for the current financial year to September 12 – the financial year runs from April 1 to March 31 – totalled US$246.33 million, or just 35 percent of the $700 million full-year target, the DOF official said on September 14.

“Export earnings are less than 50pc of our target, but about $40 million higher than last year’s export earnings at this stage,” said U Win Myint Maung director of the Fish Inspection and Quality Control Division under the DOF.

He added that fisheries exports via shipping and air had earned $153.13 million, while border trade accounted for the other $93.2 million.

Exports worth $30 million were sent to China via Muse.

Trade with Thailand amounted to about $56.95 million, with exports through Myeik earning $44.65 million, Myawaddy $4 million and Kawthoung $8.3 million.

Exports to Bangladesh through Sittwe and Maungdaw earned $2.9 million and $2.58 million respectively.

“The Myawaddy border checkpoint is still closed and fisheries products are being rerouted through Myeik instead,” U Win Myint Maung said.

An export earnings target of $700 million was also set last year but total earnings for the year amounted to only $496 million, or about 70pc of the target.