June 18, 2013

Following the removal of trade sanctions on Myanmar and plans by the EU to import farmed seafood products from Myanmar,  Myanmar's seafood export is expected to rise this year.

The EU's planned import of Myanmar's seafood would help the country boost seafood export, according to a newspaper.

Buyers from EU, the US and other countries are looking to the country to make up global short supplies of wild shrimps and other farmed species such as Tilapia.

Myanmar produced 4.5 million tonnes of seafood products including wild and farmed spices in 2012, up from 4.1 million tonnes in 2011.

Myanmar, along with Bangladesh, has produced Black Tiger and Pacific white shrimp which fetched a good price in the Japanese market and EU is expected to become Myanmar's next prospective seafood market.

However, Myanmar's farmed shrimp sector is struggling to revitalise as its infrastructure was badly affected by natural disaster and international financial support is needed for its rehabilitation.