Shrimp merchants suffer losses due to low demand from mainland Myanmar

By Admin 10 Aug 2023

DMG Newsroom
10 August 2023, Sittwe

Purchases of seawater shrimp from Arakan State destined for mainland Myanmar are decreasing and prices are not good, with shrimp traders saying they are operating at a loss.

Demand for seawater shrimp from Kyaukphyu, Thandwe, Taungup, Gwa and Sittwe that is shipped to Yangon has been falling since last month, shrimp traders said.

“Sales of shrimp and prices of shrimp are not good. Shrimp traders suffer financial losses due to low demand from mainland Myanmar,” said Ko Than Myint, owner of a shrimp brokerage centre in Kyaukphyu.

The price of seawater shrimp has decreased from K55,000 to K50,000 per viss.

“Seawater shrimp does not fetch a good price in mainland Myanmar and seawater shrimp is sold in the state. Shrimp brokerage centres in mainland Myanmar said the price of seawater shrimp is low due to financial difficulties. Due to abnormal financial circulation, the price of shrimp is not as good as before and demand is decreasing,” said Ko Aye Tun Maung, an owner of a shrimp sales centre in Sittwe.

Shrimp farming is run by local people Arakan State’s Sittwe, Maungdaw, Ponnagyun, Mrauk-U, Pauktaw, Minbya, Myebon, Kyaukphyu, Taungup, Thandwe and Gwa townships. Seawater shrimp from Sittwe, Kyaukphyu, Taungup and Thandwe Townships is mainly exported to Yangon, Myanmar’s commercial capital and largest city.

As the demand for seawater shrimp has decreased, there are some who are selling via a credit system when exporting to mainland Myanmar, said a shrimp breeder in Taungup.

“We export seawater shrimp twice a month. Previously, the shrimp had not yet been shipped, but we were paid in advance,” he said. “There are some who are selling through the credit system when exporting to mainland Myanmar.”