Malaysia seafood exports drop to this region

Malaysian seafood exports for 2015 are expected to take a dip over the previous year, both in volume and value, in part due to EU tariff issues and competition from other nations in the region.

The Star Online is reporting Malaysian export volume for 2015 is projected at 150,053 metric tons (MT), down from 166,725 recorded for 2014. Value is also expected to drop from MYR 2.4 billion (USD 558.1 million, EUR 500.5 million) in 2014 to NYR 2.2 billion (USD 511.7 million, EUR 458.8 million) this year.

The Malaysian Frozen Foods Processors Association told the publication higher import duties by EU countries on Malaysian products compared to other Southeast Asian nations such as Bangladesh, India and Vietnam are contributing to the downturn.

The association also said the country was missing out on a potential prawn export opportunity to the EU because very few prawn farmers or fishermen were producing at standards that would allow export to the EU, and the producers could or would not upgrade their facilities to meet the EU standards.

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