Dying Shrimp Sector in Bangladesh

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Dying Shrimp Sector in Bangladesh

Iqbal Ahme, OBE

Published : Friday, 5 June, 2020 at 11:38 PM, Update: 05.06.2020 11:56:56 PM, Count : 717

Seamark in the UK has invested in Bangladesh with a vision to transferring technologies for the development of fisheries sector in Bangladesh. The investment was a state-of-the-art factory in Chittagong and was inaugurated by HRH Princess Anne, The Princess Royal in November 2000.Seamark in Bangladesh became one of the leading producers and exporters of seafood in the country, winning a number of gold trophies for its high exports and continues to produce Black Tiger and freshwater shrimps successfully. Over the last 10 years the market for Black Tiger has declined due to the emergence of a new type of species known as Vannamei (Litopenaus Vannamei) which has taken over the shrimps world market. Bangladesh exports of Black Tiger and Freshwater shrimps in 2012 was USD $590million, but in 2019 this was down to USD $365 million and 85% percent of factories are either closed or have stopped production and with huge bank debts.

Our neighbouring India, Vietnam, Thailand, Indonesia and China have been farming Vannamei for fifteen years. They are fulfilling the international demand for Vannamei from the USA, Europe, Russia, China Africa, Japan, Australia and some Middle Eastern countries. The global market for Vannamei is over USD $70 billion annually. Unfortunately, Vannamei farming is still not happening in Bangladesh despite many dialogues, because of the bureaucratic red tape system, as well as the lack of leadership in promoting and supporting the production of Vannamei.

I strongly urge the government and the government trade bodies of Bangladesh to follow in the footsteps of its neighbouring countries and encourage the shrimp farmers and promote the farming of Vannamei in the country. It is sustainable especially in the rural parts of Bangladesh for job creation as well as for securing foreign currency income for the government.

Finally, I hope that serious action will be taken, as this will not only revive the dying seafood sector but fulfil the huge demand domestically and internationally. It will also drive the country’s seafood exports higher and thereby increasing foreign currency earnings to the value of billions of US dollars.

Writer: Iqbal Ahmed, OBE. Chairman & Chief Executive of Seamark Group

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