Fish and seafood was one of the earliest industries to suffer from the COVID-19 outbreak. As export channels began to close within China and Thailand, fish merchants were left with warehouses full of rotting merchandise. Unfortunately, the situation has only gotten worse as more buyers have stopped importing Myanmar seafood, 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.

Seafood is one of Myanmar’s chief exports, both wild caught along its coastlines and raised in fish farms, especially in the Ayeyarwaddy River delta region. While Asia and China import around 55 percent of Myanmar seafood, the EU imports around 45 percent. Thus, while trade with China has recovered somewhat, the loss of the EU as a buyer has been a tremendous blow to the sector. Myo Nyunt told the Myanmar Times his organization predicts the next six months will be the worst in the sector’s history. Businesses throughout the supply chain are feeling the pinch, and many small, independent fishermen have been forced to sell their boats.

The far-reaching COVID-19 Economic Recovery Plan, or CERP, may be a saving grace for the industry. The government recently revealed that the plan calls for around USD 2 billion in stimulus and recovery measures. Under CERP, fisherman, traders and others in the industry would have access to low interest loans to help them survive during the recession and rebuild when the COVID-19 crisis finally ends.