September 3, 2007

Bangladesh's shrimp exports up as hygiene improved

Bangladesh's shrimp export rose 13 percent in the 2006-07 fiscal year after a decline in 2005-06 thanks to improved hygiene measures. 

Producers have spent huge sums improving hygiene measures at every step of the manufacturing process: from farming to processing, exporters said.

Hygiene compliance is making the country more competitive in the global shrimp market, especially in the EU and US markets.

Prices for Bangladeshi shrimp rose 37 cents per pound in 2006-07 compared to 2005-06, according to the Export Promotion Bureau statistics.

Bangladesh's revenues rose 13 percent to US$456.98 million in FY07, a 17-percent increase over 2003-04. Despite this significant figure, the country only accounts for 2.5 percent of global shrimp demand.

With global shrimp demand expanding 10 percent yearly, exporters are hopeful Bangladesh would be able to increase its shrimp output and expand its global market share.