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Myanmar’s price of fishery exports to Thailand plunged by 50 percent

  • Jan 19, 2021

Myanmar fishery products’ export price to leading buyer Thailand slumped by 50 per cent, said U Win Kyaing, general secretary of Myanmar Fisheries Federation (MFF).
Myanmar mainly ships mackerel fish to Thailand through Kawthoung-Ranong border. It fetched 100-120 baht per kilo last year, and the price sharply fell to 50-55 baht per kilo.
“Thailand did not stop trading, yet the offering price drastically dropped. During a bear market, the income generated by fishery products also decreased. Surprisingly, the market experienced a 50 per cent drop”, U Win Kyaing elaborated.
At present, the country is primarily conducting border trade with Thailand’s neighbouring country through those border posts; Kawthoung-Ranong, Mawtaung in Myeik, Hteekhee in Dawei and Myawady. Thailand has shut down the border with Hteekhee and Mawtaung. The central trading post (Kawthoung-Ranong) is still open for trading. However, to contain the spread of COVID-19, Myanmar traders cannot enter Thailand’s side, and the trading occurred only at the pier.
Kawthoung-Ranong generated an income of US$250 million out of total fisheries export value with Thailand at $318 million in the previous financial year2019-2020, MFF stated.
Thailand is the primary buyer of Myanmar’s fisheries products. Last FY, Myanmar shipped $318 million worth fisheries products to Thailand, while the total fishery exports stood at $850 million.
The federation expects to reach fishery export target of $1 billion in the current FY2020-2021. Nevertheless, the fishery exports touched a low of $242.352 million between 1 October 2020 and 1 January 2021, which plunged from $261.994 million registered a year-ago period. The figures reflected a decrease of $19.6 million over the Q1 of the current FY compared with the last FY2019-2020, the Ministry of Commerce’s data showed.
Myanmar’s fisheries products are exported to 45 foreign countries, and Thailand is the primary buyer of the fisheries products, followed by China.(Translated by Ei Myat Mon)

Source: https://www.gnlm.com.mm/fishery-export-prices-to-thailand-plunge-by-50-per-cent/