Shrimp business thrives

Export income through frozen shrimps has increased by about Tk 184 crores in the last three months than the same period of the previous fiscal year.

During the first quarter of FY 2024-25 (July-September), 5, 482 metric tons of frozen shrimp were exported from the southern region of the country. Its market value was 749 crores.

During the same period of the previous FY, the consignment of frozen shrimps was 4, 398 metric tons and the market value was 565 crores.

However, the exporters labeled it as ‘temporarily profitable’ because of the continuous rises in the dollar price against taka. They claimed that the volume of consignment is decreasing gradually.

‘Since the value of dollar has increased against taka, the amount of taka is getting higher despite the export of relatively less shrimp,’ exporters added. They demanded for the necessary steps to amplify the shrimp exports.

Fisheries Inspection and Quality Control officer Lipton Sarder said, ‘following the Covid-19 pandemic and the Russia-Ukraine war, the frozen shrimps export has collapsed from the 2021-22 FY.’

‘However, the export of Bagda-Golda from the southern region has started to increase as a result of stability in the international market. The first three months of FY 2024-25 has shown a profitable picture’ he furthered.

From FY 2021-22 to FY 2023-24, 24 thousand and 104, 19 thousand and 905, and 15 thousand and 451 metric tons of frozen shrimps were exported consecutively. The market value of the exported shrimps was Tk 2611, 2412, and 1744 crors consecutively. These shrimps were harvested from three district of the southern part of the country- Khulna, Bagerhat and Satkhira.

S Humayun Kabir, director of Bangladesh Frozen Foods Exporters Association (BFFEA) said, ‘the export of frozen shrimps has decreased by half in the last three years. Many shrimp processing factory have been closed due to the continuous fall in demand and production.’

Shrimp exporter Abdul Baki said, ‘We placed specific recommendations before the government to increase shrimp production and export.’ We have received a positive response to Vannamei shrimp production and cluster farming (10-15 farmers will produce and import fingerlings together). If these steps are implemented, shrimp exports will increase, Baki expressed his hope.

(The report was published on print and online versions of The Bangladesh Pratidin on October 04 and rewritten in English by Afsar Munna)