WITH plans to set up a joint venture for eel farming in the Mandalay Region, a group of 15 businessmen from China met with local entrepreneurs in the first week of this month to discuss the market conditions and stages of farming, according to the Agriculture and Market Information Agency.
“The Chinese businessmen plan to enter into a temporary partnership with Mandalay entrepreneurs. They want to breed eels using their farming technology. If the JV is formed, the Chinese businessmen want a 50-per-cent share in the profit. However, local entrepreneurs want to give them only a 30-percent share,” said a businessman.
Myanmar exports wild-caught mud eels to China. Since 2016, China’s eel breeders have made business agreements with local farmers for eel farming in the Yangon and Ayeyawady regions.
“In 2017, officials from the Myanmar Fisheries Federation (MFF) went on a study tour to Viet Nam, where eel cultivation has been successful, and now, the MFF has successfully conducted experimental eel farming,” said Daw Toe Nanda Tin, the vice president of the MFF.
Starting August 2017, eel varieties from across Myanmar were stocked for eel hatching operations, which began in October the same year.
The MFF aims to convert eel cultivation into a commercial business. It is preparing to stock eel species from eel-producing regions to proceed with further production.
Currently, the eel population in Myanmar is dropping owing to illegal fishing methods such as electrocution and overfishing.—GNLM (Translated by Ei Myat Mon)