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Published on Monday, 14 January 2013 00:31
Encountering low supply of marine products from the seas, members of Myanmar Fisheries Products Processor and Exporters Association (MFPPEA) are discussing to establish a public company as a bid to extend their farming.
Han Tun, vice chairperson of Myanmar Fisheries Federation, said, “MFPPEA is thinking to form a public company where attempts will be made to process marine products in the best ways gaining international export quality.”
On establishing the public company, the association is expected to raise an initial capital of 500 million Kyat (US$588,235), requiring to adopt more transparency in both operating and financial issues.
“A (bigger) public company may have better access to wider financial resources and advanced technologies. The purpose is to boost the trade for exporters and their factories,” Han Tun said.
Regarding the role of systematic farming, he highlighted that raw materials are the most important for the industry.
“Firstly, we will focus on fresh and salt-water prawn farming,” he added.
In the country, there are 220,000 acres of prawn farms, where only tens of thousands adopt scientific methods while the rest are going traditional.
Currently, local prawn exporters rely on sea products rather than those from farms. They are having concerns as the sea water lives become scarcer than in the past