August 11, 2005

Bangladesh to up US shrimp exports fivefold by 2010

Bangladesh will be increasing its US shrimp exports by five times in the next five years, US Agency for International Development (USAID) said.

Shrimp exports, now the second largest second biggest exports in the country after ready-made garments, earn about US$300 million annually.

Bangladesh, US agri-business Cargill and dairy farm cooperative Land O'Lakes have started working on a US$10-million project managed by global consulting firm Louis Berger Group and USAID, and aimed to increase shrimp exports to USD 1.5 billion by 2010.

The Bangladesh government also contributed another US$5 million to the project.