Myanmar fisheries sector nears collapse as orders tumble
Myanmar’s fisheries sector will face its largest loss in history if demand does not pick up very soon, said U Myo Nyunt, secretary of the Myanmar Fisheries Products Processors & Exporters Association (MPEA).
“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,” he told The Myanmar Times.
The EU and other western countries accounts for about 45 percent of Myanmar’s fisheries exports, while China and Thailand account for the remaining 55pc.
The drop in demand will affect businesses throughout the fisheries supply chain. “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,” said U Myo Nyunt.
CHAN MYA HTWE
