August 16, 2004
Bangladesh Shrimp Export Earnings May Quadruple By 2008
Frozen foods exporters in Bangladesh have taken an initiative targeting to earn Tk 10,000 crore annually by the year 2008 through increasing shrimp production, the optimum utilisation of the processing capacity and exploring new markets.
To achieve the objective, Bangladesh Frozen Foods Exporters Association (BFFEA) has prepared a concept paper titled "Vision-2008" and submitted it to the government for taking necessary steps.
The exporters said the country earned about US$380 million in last fiscal year (2003-2004) which was $10 million higher than the target.
The association has fixed the export target at $410 million (about Tk 2,500 crore) for the current fiscal year.
Shrimp constitutes the major portion of the frozen foods exported from Bangladesh.
BFFEA sources said the government has already directed the Ministry of Commerce to give special attention to the sector and extend necessary help to the frozen foods exporters to achieve their objective.
BFFEA sources said they have taken up an action plan to achieve the target producing around 2.5 lakh metric tons of raw shrimp from 2.30 lakh hectares by introducing modern and eco-friendly pisciculture technology.
The shrimp production target is expected to be achieved following methods adopted by Thailand. The Thai per acre yield is many times higher than that of Bangladesh.
Sources said that the European Commission (EC) assured them (BFFEA) of assisting the association with all supports to make their objective a success. BFFEA had earlier requested EC to extend support.
In the last fiscal year BFFEA exported frozen foods to USA, Russia, Denmark, Germany, United Kingdom, Belgium, Switzerland, China, Thailand and Malaysia. The association is determined to explore new markets in the world for frozen food exports.