BFFEA chief stresses new shrimp mkt exploration

FE Team | Published: March 14, 2013 00:00:00 | Updated: February 01, 2018 00:00:00

Sonia H Moni Shrimp exporters have to explore new market and increase the production to tackle the ongoing negative growth, Bangladesh Frozen Foods Exporters Association (BFFEA) president Md. Amin Ullah said. He told the FE: "The local farmers are used to the traditional approach, but we have to increase the volume of production in a cost effective way. It will be possible when the shrimp farmers gather knowledge and their ponds will be re-arranged with improved version." Bangladesh is a small stakeholder in the global shrimp industry with 2.5 per cent of global shrimp production behind Thailand, Vietnam, Ecuador, India, Indonesia and China. The frozen food sector faced a negative growth of nearly 17 per cent during the first eight months of the current fiscal over that in the corresponding period of the last fiscal, and it also fell short of the target by 16.77 per cent, according to the Export Promotion Bureau (EPB) data. The country's shrimp industry is facing negative growth due to economic crises in the EU and the USA as well as export ban on shrimps and white fish. The BFFEA sources said since 2007 the economic recession, in 2009 golda shrimp export ban, in 2010 self imposed ban on shrimp export affected highly productive vannamei species. The export earning from frozen shrimp and shrimp was US$ 598 million in 2011-12 while it was US$ 611.36 in 2010-11. But in 2009-10 the export earning from shrimp and fish was only US$ 437.40 million, lowest in five years. BFFEA president Amin Ullah said: "Two factors are mainly involved in growth - volume and value. The international price of shrimp fell 25 per cent due to the economic recession." He urged the government to take necessary steps to develop the shrimp farmer and their ponds. Capital investment is a major problem for the farmers. "As a third largest export earning industry, the government should come forward with low interest rate loan for farmers and modern farming system shrimp pond and the quality should be ensured," he said. The shrimp exporters now export 60 to 70 per cent value added product. Some the products are ready to cook and some are ready to eat. The BFFEA president said the processing plant should also be updated and total capacity should be utilised which will be helpful to increase the export.