In a bid to capitalize on the success of its live mantis shrimp shipments to the Chinese market in 2023, Cambodian Tienit International Trading is gearing up to increase its exports this year. The move comes after nearly 10 successful shipments last year garnered significant support from the Chinese public.

Chea Kimlong, an adviser to the company, expressed the firm’s intention to procure more live crustaceans to meet the growing demand in the Chinese market. However, he acknowledged that certain challenges need to be addressed before they can significantly scale up their export volumes.

One major hurdle highlighted by Kimlong is the potential impact of success on pricing dynamics. He explained, “When we export successfully, sales increase. When there is high demand from China, our fishermen sell them at a higher price. Since we exported several times in 2023, the price has gone up steadily. When prices grow too high, it hurts our purchasing capacity as they are no longer profitable.”

Another challenge noted by Kimlong is the reliance on wild catch for mantis shrimp, making it challenging to guarantee a stable supply. Despite these challenges, the company remains optimistic and is keen on expanding its portfolio, with plans to export other marine fishery products in the near future.

Khov Kuong, deputy director of the Fisheries Administration (FiA), under the Ministry of Agriculture, Forestry, and Fisheries, acknowledged receiving information from the company regarding the increase in prices. He emphasized the need for careful consideration to manage potential challenges arising from increased demand and limited supply.

“If demand increases but supply remains limited, the market will always experience a slight price increase. Problems can arise when brokers begin speculating. We may have to introduce some compromise measures to prevent prices from rising too much,” Kuong explained.

Highlighting the significance of the export of mantis shrimps to China, Kuong stressed the importance of careful management by the FiA to ensure the sustainability of natural resources. He stated, “The export of mantis shrimps – found in our marine fisheries – to China is a great achievement. However, because they are caught in the wild, the FiA has to manage their export carefully, in order to maintain the sustainability of our natural resource.”

In broader statistics provided by the agriculture ministry, Cambodia saw a notable increase in its fisheries exports in 2023. The country exported 3,449 tonnes of freshwater fishery products, reaching 49.27% of the planned 7,000 tonnes, a significant rise from the 547 tonnes exported in 2022. Additionally, processed fisheries product exports reached 186 tonnes, up by 145 from 2022. Marine fisheries output reached 125,500 tonnes, accounting for 96.54% of the planned 130,000 tonnes.