Fishery exports to China decline for 5th straight year

The export of fish and related products to China has steadily declined over the past five years, according to a announcement released by Ministry of Agriculture, Livestock and Irrigation.

A total of 92,780 tonnes of fishery products worth US$259million were exported to China in the 2011-2012 fiscal year. But that figure dropped to only US$161million with the export of 78,720 tonnes in the 2015-2016 fiscal year, it is learnt.

The decline in fishery exports to China is attributed to higher demand from the U.S., Thailand, Singapore and the European Union. Previously, fishery exports depended heavily on the China market. But after the lifting of EU sanctions against Myanmar, Myanmar chose more favourable markets, which offered higher prices.

The value of fishery exports as of 28th October this year was US$277.68million, an increase of US$39.635million from the previous year, according to the statics of the Commerce Ministry.

Source: The Global New Light of Myanmar

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