Global shrimp price hike to help boost BD exports
Sonia H Moni | Wednesday, 20 August 2014
Prices of shrimp in global market increased by average 50 to 60 cent per pound in the last one month due to supply shortage of vennamei shrimp following production fall in different countries, industry people said.
"The price of 16-20 count is now US $ 8.90 to $ 9.00 per pound and last month it was $ 8.40 per 8.50 pound," Lockpur Group of Industries deputy managing director Khan Habibur Rahman told the FE Tuesday.
"On the other hand, the price of 31-40 count is $ 6.50 per pound, which was $ 6.0 in the last one month," he said.
Mahmudul Karim, a shrimp expert, said: "The price of shrimp in the international market is showing upward trend because of shortage of supply following heavy mortality rate in shrimp culture."
He said vennamie is the dominant species in the international market, which is widely produced in Vietnam, Thailand, India and Indonesia, but the production has declined due to heavy mortality, a disease named 'Early Mortality Syndrome' or EMS."
The shrimp farms of China, Vietnam, Thailand and Vietnam were affected by bacterial infection called EMS for last three years. The disease doesn't affect people, but it kills baby shrimp.
Bangladesh and a few other countries are being not affected by this disease cause heavy mortality in shrimp are taking advantage of this situation, Mr Karim said.
Bangladesh Frozen Foods Exporters Association (BFFEA) President Md Amin Ullah said: "The price of shrimp in the international market is gradually increasing and if the situation continues, it will create positive impact on frozen food export of Bangladesh."
"We are hopeful that the increased price of shrimp will continue and it will help us reach the target of shrimp export for fiscal year 2014-15," he said.
Bangladesh exported frozen foods worth $ 65.19 million in July of this fiscal year (FY 2014-15), compared with $ 60.83 million of the same period in last fiscal, Export Promotion Bureau (EPB) data showed.
The government has set a target of exporting $ 731.08 million worth of frozen foods this fiscal.