Q1 shrimp exports record 42pc growth
Saturday, 23 October 2010
Monira Munni
Shrimp exports bounced back in the first quarter as shipment grew a healthy 42 per cent to US$121.91 million after the country improved testing quality.
Earnings in July-September period of 2011 financial year were even up from the $85.08 million target.
But exporters are not sanguine about maintaining the growth momentum in the coming months, due to the stringent testing requirements by the European Union (EU), their biggest market.
"It may be tough for us to maintain this growth because of new EU sanitary requirements," an exporter said.
"Many factors are responsible for the recovery in growth. This is also a pick season," Maksudur Rahman, vice president of Bangladesh Frozen Food Exporters Association (BFFEA) said.
Exporters exported both the black tigers and fresh water prawn, he added.
The case of consignment rejection was minimal in the period, which actually boosted the income, he told the FE Friday.
Between January and September, he estimated that only four rejections were recorded while in 2009 such a case totalled 54.
"This has been possible only for meeting the EU quality requirement," he said.
Last year, the country had only one machine but now it has two additional machines operated by many skilled manpower, Mr Maksud said.
Prices of shrimp were also high ranging between $5.50 and $6.0 per pound than that of last fiscal when they were $4- $4.50 per pound after overcoming the impact of recession.
Due to 20 per cent mandatory testing requirement, importers are already started paying less and payment is only made after reaching the consignment to their destination, the association leader said.
However, Mr Maksud hoped that the EU authority will withdraw the 20 per cent testing requirement after a Bangladeshi team's scheduled visit to Brussels in January.
Shrimp exports bounced back in the first quarter as shipment grew a healthy 42 per cent to US$121.91 million after the country improved testing quality.
Earnings in July-September period of 2011 financial year were even up from the $85.08 million target.
But exporters are not sanguine about maintaining the growth momentum in the coming months, due to the stringent testing requirements by the European Union (EU), their biggest market.
"It may be tough for us to maintain this growth because of new EU sanitary requirements," an exporter said.
"Many factors are responsible for the recovery in growth. This is also a pick season," Maksudur Rahman, vice president of Bangladesh Frozen Food Exporters Association (BFFEA) said.
Exporters exported both the black tigers and fresh water prawn, he added.
The case of consignment rejection was minimal in the period, which actually boosted the income, he told the FE Friday.
Between January and September, he estimated that only four rejections were recorded while in 2009 such a case totalled 54.
"This has been possible only for meeting the EU quality requirement," he said.
Last year, the country had only one machine but now it has two additional machines operated by many skilled manpower, Mr Maksud said.
Prices of shrimp were also high ranging between $5.50 and $6.0 per pound than that of last fiscal when they were $4- $4.50 per pound after overcoming the impact of recession.
Due to 20 per cent mandatory testing requirement, importers are already started paying less and payment is only made after reaching the consignment to their destination, the association leader said.
However, Mr Maksud hoped that the EU authority will withdraw the 20 per cent testing requirement after a Bangladeshi team's scheduled visit to Brussels in January.