August 2, 2024

 

Bangladesh's vannamei shrimp production held back by insufficient technology and investment

 

 

Stakeholders in Bangladesh believe vannamei shrimp is crucial for regaining the country's shrimp export market particularly as it holds a significant 83% share of the global $32 billion shrimp market.

 

However, approximately two-thirds of companies authorised to cultivate vannamei shrimp have been unable to commence production due to a lack of essential technology and insufficient investment.

 

According to the Department of Fisheries, 25 companies have been permitted to cultivate vannamei shrimp since 2019, but only two companies have been approved to cultivate vannamei fry.

 

Out of the 25, only seven to eight companies have begun experimental cultivation, with just one completing its first production cycle. The vannamei shrimp cultivation cycle takes approximately three months.

 

Meanwhile, one of the fry production farms claimed that it is consistently incurring losses due to low sales.

 

Bangladesh Frozen Foods Exporters Association said that Bangladesh may need to wait until 2025-26 to export vannamei shrimp.

 

Bangladesh's shrimp exports have declined by 24% from July 2023 to May 2024 compared to the previous year. The country primarily exports tiger shrimp, which has faced decreasing global demand.

 

The government authorised vannamei shrimp cultivation to boost the country's declining export trend.

 

However, the initiative has faced some obstacles, leading to a delay in the export process. Additionally, ongoing production costs pose a significant challenge, preventing many companies from starting production despite having permits.

 

- The Business Standard