Eel Price Down After July High14 September 2012
MYANMAR - Eel prices are falling back to earth after hitting a high in early July on the back of unrelenting Chinese demand, a spokesperson for the Myanmar Eel Entrepreneurs Association said last week.
Eel sold for as much as US$5140 a tonne in early July said association chairman U Ba Thaw, during the weekly Myanmar Fisheries Federation (MFF) meeting in Yangon, reports
However, by last week the price had fallen to $4200 a tonne.
U Ba Thaw said that earnings from eel exports have been growing year-on-year for the past three years, although the quantity exported in 2009-10 fell.
“Eel export prices hit $5140 a tonne on July 4, which is the highest price we’ve ever seen,” he said, adding that prices reached about $5000 a tonne at the same time last year.
“Daily exports to China are also strong,” he said.
He added that eel exports earnings have grown year-on-year for three years. Myanmar exported more than 10,647 tonnes of eel in the 2011-12 financial year, which ended in March, earning $40.34 million. Exports in the 2010-11 year earned 23.48 million from 7949 tonnes, a small drop in quantity but an increase in earnings against the $20.72 million brought in from 8792 tonnes in 2009-10, according to MFF data provided on August 14.
Eel export earnings by August 14 had already bettered those recorded in the same month last year – $13.58 million compared with $11.24 million.
China is the major buyer of Myanmar eel, with the province of Guangzhou purchasing 75 percent of exports.
U Ba Thaw said daily exports at this time of year averaged 40 tonnes. Shipments are sent from Mandalay to Muse, Laukkai and Myawaddy to either China or Thailand.
“We export between from 500-600 boxes a day to Muse and about 240-250 boxes to Laukkai,” he said, adding that each box contains about 50 viss (1 viss weighs 1.6 kilograms or 3.6 pounds).
TheFishSite News Desk