Om Decision

Shrimp export booms on value addition, access to new markets

Kazi Azizul Islam

The country’s shrimp export has been booming in recent months, with exporters getting increased unit price as supply from other sources to the global market has shrunk.

More value addition and getting access to new markets are two other key factors that have brought about the export boost, industry people said.

The market promotion and production diversification efforts made by the exporters, who had to struggle much during the last global economic recession, are finally started to pay off, with the demand for Bangladeshi shrimp products expanding a lot.

But, shrimp production in the Aila-affected coastal areas still being unable to make a full rebound has resulted in an inadequate supply of raw shrimps, which is preventing exporters from making the most of the market potential.

‘Bangladeshi shrimp exporters are now meeting a tremendous increase in demand from the global importers,’ said Bangladesh Frozen Food Exporters’ Association chief executive officer Abul Basher.

The country’s shrimp export earnings in 2009-10 fiscal was recorded at $375 million, posting a more than 7 per cent negative growth. But, in the first 10 months [July-April] of the current fiscal year, export earnings from raw and valued-added frozen shrimps amounted to $386 million, up by 52 per cent year on year.

Basher said the quantity of shrimps exported in the current fiscal year would cross the 100 million pound mark, compared to 82 million pounds exported in FY2009-10.

Industry insiders said local exporters started to find high demands for Bangladeshi shrimp products again in the European Union and the United States from the beginning of the current fiscal year as shrimp consumption at restaurants and homes there began to rise with the easing of recession.