August 20, 2009

Ready-made shrimp from Myanmar smuggled into Bangladesh has negatively impacted the local shrimp market.

 

Local businessmen dealing with shrimp and import taxes have been facing a great loss because the smuggled ready-made shrimp from Myanmar are sold at lower prices in the markets. Some businessmen have taken the Myanmar shrimp and claimed it was produced in Bangladesh in order to export it to foreign countries.

 

Because Bangladesh exported the ready-made Myanmar shrimp to foreign countries without detection, the lower-quality shrimp were sent back to Bangladesh due to contaminants.

 

As a result, Bangladesh has been blacklisted in international markets and its currency is losing foreign exchange value, an observer said.

 

Local shrimp producers and traders in Bangladesh are losing profits as they lower prices to compete with the cheaper shrimp smuggled from Myanmar.

 

One official from the fishery department in Chittagong Division said the government may take legal action against individuals who are involved with such dealings.