Shrimp price fall abroad worries exporters

The prices of shrimp in the global market dropped by 15 to 30 per cent depending on their size in the last one and a half months as the output of P vennamei species increased in different countries.
The price fall came to the worry of the local shrimp exporters.
"The price of 31-40 count shrimp was US$ 7.0 per pound one and a half months back but it came down to US$ 5.0 per pound," Lockpur Group of Industries deputy managing director Khan Habibur Rahman told the FE Sunday.
"On the other hand, the price of 16-20 count shrimp was US$ 9.50 per pound while it came down below US$ 8.0 per pound."
The prices of shrimp dropped by US$ 1.5 to 2.0 per pound as output of the vennamei species increased in Vietnam, Thailand, India and Indonesia after remaining high last year.
The price of shrimp was higher last year as the shrimp farms of China, Thailand and Vietnam were affected by bacterial infection called 'Early Mortality Syndrome' (EMS) in the year. The disease does not affect humans, but it kills baby shrimp.
Bangladesh Frozen Foods Exporters Association (BFFEA) senior vice president Kazi Bellayet Hossain said the price of shrimp started falling last month.
Mr Hossain said: "The shrimp exporters are enjoying 10 per cent cash incentive on exports at the rate of US$ 3.79 per pound of shrimp. But we export shrimp at US$ 8.00 to 12.00 per pound."
"So, if the government raises the ceiling of incentive from US$ 3.79 per pound of shrimp to US$ 5.5, it will help tackle the downtrend of shrimp price in the international market, he added."
He said: "In this fiscal year the global market price was high, so the figure of frozen food export is quite satisfactory. But the global market is showing a downtrend and if it continues, then it will create a negative impact on frozen food export in the next fiscal year."
Bangladesh exported frozen foods worth $ 534.98 million during July to April of this fiscal year (FY 2013-14), compared to $ 433.86 million of the same period last fiscal, the Export Promotion Bureau (EPB) data showed.
The government has set a target to earn $578.77 million by exporting frozen foods in the current fiscal.