Myanmar’s fishing sector near collapse as orders hits hard by Covid-19

Last updated on May 7th, 2021 at 08:37 am

YANGON – Myanmar’s fisheries sector are suffering from its largest loss in history as demand has been impacted by the covid-19 pandemic, says  secretary of the Myanmar Fisheries Products Processors & Exporters Association (MPEA) U Myo Nyunt.

“Exports have collapsed. All international orders have been cancelled and we have not received any new orders from the European Union (EU) since they are all locked down,”

“At first, those operating cold storage facilities did not have any income and some had to shut down. Now, factories are not allowed to open and jobs are dwindling,” He added.

“Exports have collapsed. All international orders have been cancelled and we have not received any new orders from the European Union (EU) since they are all locked down,” said U Myo Nyunt.

According to U Myo Nyunt, The EU and North America comprises of about 45 percent of Myanmar’s total aquaculture and fisheries exports worth around $750 million this year. China and Thailand on the other hand, accounts for the rest of the 55 percent.

Since the pandemic on April, the Myanmar Fisheries Products Processors & Exporters Association expects the industry to suffer big losses  from June to August.

U Myo Nyunt criticizes the government for the lack of support for the aquaculture and fisheries sector saying that while the industry contribute significantly to exports, Only tourism operators and garment manufacturers  are receiving aid and loan from the government. Fisheries exports generate an average of US$700 million in revenue yearly.