September 23, 2008
Bangladesh's frozen shrimp exports for the fiscal year to June 2009 could fall if the global economic recession continues, according to the Bangladesh Frozen Foods Exporters Association (BFFEA) on Monday (September 23, 2008).
Frozen shrimp exports fell 2.5 percent to US$445.4 million in fiscal 2007/08 due to a drop in demand, said BFFEA chief executive officer Abul Bashar.
However, shipments of other frozen seafood rose nearly 5 percent to US$88.66 million and total seafood export earnings increased 3.7 percent to a record US$534 million.
Bashar said shrimp exports fell due to economic recession in the West but fish exports increased because of aggressive market policy among the consumers.
Demand and price for shrimps in the US and EU has declined up to 30 percent due to global economic slowdown, Bashar said.
In the last fiscal year, Bangladesh exported 30,000 tonnes of shrimps, down from 39,000 tonnes in the previous year. In comparison, fish exports increased to 19,270 tonnes from 10,810 tonnes.
More than 40 percent of the shrimp exports went to the US, while EU accounted for 50 percent. The remainder went to Japan and other countries, according to Bashar.