April 23, 2009

Bangladesh shrimp farmers seeks gov't financial support

Bangladeshi shrimp hatchers have sought government support including cash and low-cost bank credit to help them recoup their huge financial losses on account of marketing of fries at much lower than the production cost.


A delegation of the Shrimp Hatchery Association of Bangladesh (SHAB), led by its president Main Uddin Ahmed, made the appeal at a meeting with Finance Minister AMA Muhith at the latter's office at the Secretariat Tuesday (Apr 21).


The hatchery owners informed the finance minister that they were forced to sell shrimp fries at 0.08 takas (BDT) to BDT0.10 per piece against the production cost of around BDT0.25 per piece.


They proposed that a financial support of BDT2.0 billion and inclusion of the sector in the government's stimulus package would help them recoup some of their losses.


The minister expressed his willingness to take necessary steps so that they get bank loans at a rate, as is applicable for the agriculture sector.


US$1 = BDT68.30 (Apr 23)