Comparison of the Benefits Available in Domestic and Foreign Markets for Tanzanian Fish Traders

Abstract

This study identified and compared benefits available in the domestic and foreign markets for possible exploitation by Tanzanian fish traders. The methodology used in this study was qualitative in nature utilizing primary and secondary data collected through different tools and analyzed using Statistical Package for Social Science (SPSS). The study found varying benefits in both domestic and foreign markets. In the domestic market, Tanzanian traders have advantage of high prices for fish, less stringent standards and, very low level of competition, to mention few. Benefits from the foreign markets are associated with very high potential for returns and profit as well as large number of customers. Also, both markets have different investment opportunities which can be beneficial to fish traders. It is concluded that instead of thinking of exploiting the foreign market opportunities, Tanzanian fish traders must direct their efforts in serving the vast domestic market which would become a stepping stone towards successful serving of the foreign markets. A number of recommendations are provided including, formulation of policies to stimulate the consumption of domestically produced products, fishermen to be trained and encouraged to use modern fishing technology and support services to boost the quantity and quality of their catch, infrastructures to and from fish rich areas to be improved in order to avoid high percentage of post-harvest losses, to mention a few.