October 13, 2014
Bangladesh shrimp prices falling as US dollar value rises
Demand for Bangladeshi shrimp has dropped sharply because of the rising value of the US dollar.
Kazi Bellayet Hossain, senior vice president of Bangladesh Frozen Foods Exporters Association, said, "We're facing this situation as the Europeans are buying the dollar at a high rate, which increased the expenditure of our buyers."
It's disappointing, according to him. "We are supposed to get big export orders ahead of Christmas, but the demand has fallen unexpectedly."
Khan Habibur Rahman, deputy managing director for the Lockpur Group, a customs agency, said that shrimp prices in the global market fell by 10 to 15 US cents per pound recently and that demand for tiger shrimp in the European market has also slowed.
The price for 16-20 count shrimp, he said, is now US$8.50 to US$8.80 per pound, compared to US$8.60 to US$8.88 15 days ago.
Last year, the price for 16-20 count shrimp was US$9.50 per pound because of a supply shortage of white shrimp in the global market.